Ormat Technologies (ORA) FY2013 results: revenue $533 million, up 6.3% on the year
Ormat Technologies, Inc. (ORA) reported revenue of $533 million for fiscal 2013, the year ended 31 December 2013, up 6.3% on the year before. Net income was $41 million, and diluted earnings per share $0.91. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$533 million
+6.3% on the year
FY2008FY2013
Operating margin
18.2%
-31.9% a year earlier
FY2008FY2013
Net income
$41 million
FY2008FY2013
Diluted EPS
$0.91
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
533
502
425
+6.3%
Cost of revenue
373
373
312
+0.2%
Gross profit
160
129
114
+23.9%
Gross margin
30.0%
25.7%
26.7%
Research and development
5.0
6.1
8.8
-18.7%
Operating income
97.0
-160
61.6
Operating margin
18.2%
-31.9%
14.5%
Interest expense
73.8
64.1
69.5
+15.2%
Pre-tax income
51.1
-212
4.3
Income tax
13.6
1.8
48.2
+641.8%
Effective tax rate
26.5%
n/a
1117.2%
Net income
41.2
-213
-43.1
Net margin
7.7%
-42.5%
-10.1%
Diluted EPS
$0.91
-$4.69
-$0.95
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
86.8
89.5
133
-3.0%
Capital expenditure
205
233
270
-12.2%
Free cash flow
-118
-144
-137
Free cash flow margin
-22.1%
-28.6%
-32.2%
Cash from investing
-157
-101
-341
Cash from financing
61.1
-21.9
225
Depreciation and amortisation
92.9
99.5
93.5
-6.6%
Share-based compensation
6.3
6.4
6.7
-2.1%
Dividends paid
3.6
3.6
5.9
0.0%
Dividend per share
$0.08
$0.08
$0.13
0.0%
Diluted shares, weighted
45m
45m
45m
+0.1%
Shares outstanding at period end
45m
45m
45m
+0.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
733
695
907
+5.4%
Non-controlling interest
12.4
7.1
7.9
+74.3%
Deposits
21.3
21.7
n/a
-1.8%
Debt
1,078
1,031
1,025
+4.6%
Other liabilities
315
333
375
-5.3%
Total liabilities and equity
2,159
2,088
2,315
+3.4%
Fixed assets
1,452
1,253
1,519
+15.9%
Intangible assets
31.9
35.5
38.8
-10.0%
Investments
n/a
3.0
18.5
Cash and equivalents
57.4
66.6
99.9
-13.9%
Receivables
95.4
55.7
51.3
+71.3%
Inventory
22.3
20.7
12.5
+7.8%
Other assets
500
653
575
-23.4%
Total assets
2,159
2,088
2,315
+3.4%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.