Ormat Technologies Q4 revenues: $ 190.5 million

Ormat Technologies, which operates in the geothermal energy field, published its results for the fourth quarter and full year 2018, after which it reported revenues of $ 190.5 million in the fourth quarter, an increase of 14.5% compared with the corresponding quarter of 2017. 
Ormat Technologies operates in two main segments: the electricity segment and the products sector. Revenues from the electricity sector rose 8% to $ 138.3 million in the quarter, and revenues from the products sector rose 31% to $ 49.7 million in the quarter.
The company reported net income of $ 18.2 million for the quarter, $ 0.36 per share, compared to $ 64.6 million for the corresponding quarter last year. This was mainly due to tax expenses in the amount of $ 31.4 million, compared to tax income of $ 28.3 million in the corresponding quarter last year. In addition, the Company carried out a one-time write-off of approximately $ 13.5 million in respect of impairment of goodwill related to the acquisition of Verity. Non-GAAP net income for the quarter was 52 cents per share.