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Ormat 1st Half Results

|Includes: Ormat Technologies, Inc. (ORA)

Ormat is a geothermal company, that both manufactures low temperature generation equipment and runs its own power plants. They have reported 1st half results.
 

For the six-month period ended June 30, 2009, total revenues were $200.1 million, an increase of 33.8% from $149.6 million in the same period last year. 

 

Not a bad increase. Electricity sales are flat however, and the boost comes from sales of generation equipment.
 

Product Segment revenues for the first half of 2009 were $76.9 million, compared to $28.3 million in the same period in 2008.  

 

That is especially good news as it means that companies are investing in geothermal or energy efficiency even in today’s market. The potential for this technology and that of its competitors is huge.