Ormat Technologies (ORA) FY2012 results: revenue $502 million, up 17.9% on the year
Ormat Technologies, Inc. (ORA) reported revenue of $502 million for fiscal 2012, the year ended 31 December 2012, up 17.9% on the year before. Net income was -$213 million, and diluted earnings per share $-4.69. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$502 million
+17.9% on the year
FY2008FY2012
Operating margin
-31.9%
14.5% a year earlier
FY2008FY2012
Net income
-$213 million
FY2008FY2012
Diluted EPS
-$4.69
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
502
425
373
+17.9%
Cost of revenue
373
312
296
+19.6%
Gross profit
129
114
77.6
+13.4%
Gross margin
25.7%
26.7%
20.8%
Research and development
6.1
8.8
10.1
-30.6%
Operating income
-160
61.6
23.6
Operating margin
-31.9%
14.5%
6.3%
Interest expense
64.1
69.5
40.5
-7.8%
Pre-tax income
-212
4.3
30.8
Income tax
1.8
48.2
-1.1
-96.2%
Effective tax rate
n/a
1117.2%
-3.6%
Net income
-213
-43.1
37.3
Net margin
-42.5%
-10.1%
10.0%
Diluted EPS
-$4.69
-$0.95
$0.82
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
89.5
133
101
-32.6%
Capital expenditure
233
270
283
-13.6%
Free cash flow
-144
-137
-182
Free cash flow margin
-28.6%
-32.2%
-48.8%
Cash from investing
-101
-341
-204
Cash from financing
-21.9
225
139
Depreciation and amortisation
99.5
93.5
86.8
+6.4%
Share-based compensation
6.4
6.7
7.4
-4.2%
Dividends paid
3.6
5.9
12.3
-38.6%
Dividend per share
$0.08
$0.13
$0.27
-38.5%
Diluted shares, weighted
45m
45m
45m
0.0%
Shares outstanding at period end
45m
45m
45m
0.0%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
695
907
939
-23.3%
Non-controlling interest
7.1
7.9
6.1
-10.5%
Deposits
21.7
n/a
n/a
Debt
1,031
1,025
790
+0.6%
Other liabilities
333
375
308
-11.3%
Total liabilities and equity
2,088
2,315
2,043
-9.8%
Fixed assets
1,253
1,519
1,425
-17.5%
Intangible assets
35.5
38.8
40.3
-8.5%
Investments
3.0
18.5
1.3
-83.7%
Cash and equivalents
66.6
99.9
82.8
-33.3%
Receivables
55.7
51.3
54.5
+8.6%
Inventory
20.7
12.5
12.5
+64.8%
Other assets
653
575
426
+13.6%
Total assets
2,088
2,315
2,043
-9.8%
10-K for the year ended 31 December 2012, filed 28 February 2014: the filing.