Ormat Technologies (ORA) FY2011 results: revenue $425 million, up 14.0% on the year
Ormat Technologies, Inc. (ORA) reported revenue of $425 million for fiscal 2011, the year ended 31 December 2011, up 14.0% on the year before. Net income was -$43 million, and diluted earnings per share $-0.95. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$425 million
+14.0% on the year
FY2008FY2011
Operating margin
14.5%
6.3% a year earlier
FY2008FY2011
Net income
-$43 million
FY2008FY2011
Diluted EPS
-$0.95
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
425
373
412
+14.0%
Cost of revenue
312
296
292
+5.4%
Gross profit
114
77.6
120
+46.6%
Gross margin
26.7%
20.8%
29.2%
Research and development
8.8
10.1
10.5
-13.0%
Operating income
61.6
23.6
66.6
+161.2%
Operating margin
14.5%
6.3%
16.2%
Interest expense
69.5
40.5
16.2
+71.6%
Pre-tax income
4.3
30.8
78.4
-86.0%
Income tax
48.2
-1.1
15.4
Effective tax rate
1117.2%
-3.6%
19.7%
Net income
-43.1
37.3
68.9
Net margin
-10.1%
10.0%
16.7%
Diluted EPS
-$0.95
$0.82
$1.51
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
133
101
111
+30.9%
Capital expenditure
270
283
271
-4.9%
Free cash flow
-137
-182
-160
Free cash flow margin
-32.2%
-48.8%
-38.8%
Cash from investing
-341
-204
-286
Cash from financing
225
139
187
+62.2%
Depreciation and amortisation
93.5
86.8
64.4
+7.8%
Share-based compensation
6.7
7.4
5.8
-9.6%
Dividends paid
5.9
12.3
11.3
-51.7%
Dividend per share
$0.13
$0.27
$0.25
-51.9%
Diluted shares, weighted
45m
45m
46m
-0.0%
Shares outstanding at period end
45m
45m
45m
0.0%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
907
939
945
-3.5%
Non-controlling interest
7.9
6.1
4.7
+30.0%
Debt
1,025
790
0.0
+29.8%
Other liabilities
375
308
914
+21.6%
Total liabilities and equity
2,315
2,043
1,864
+13.3%
Fixed assets
1,519
1,425
999
+6.5%
Intangible assets
38.8
40.3
42.0
-3.7%
Investments
18.5
1.3
0.7
+1,339.1%
Cash and equivalents
99.9
82.8
46.3
+20.6%
Receivables
51.3
54.5
53.4
-5.9%
Inventory
12.5
12.5
15.5
+0.0%
Other assets
575
426
708
+34.9%
Total assets
2,315
2,043
1,864
+13.3%
10-K for the year ended 31 December 2011, filed 28 February 2014: the filing.