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Business, Energy

Ormat Revenue Up, Net Down

03.27.08 | Comment?

Geothermal and waste heat harvest equipment maker and electricity generator Ormat issued a short earnings preview this morning stating that revenue was up year over year from $72M to $73M. Net profit however dropped from $87M to $47M; however, the prior comparison period had a one-time capital gain of $47M reported. Excluding this gain, profit increased from $40M to $47M year over year.

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