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What: Shares of Ormat Technologies
So what: Revenue of $97.8 million easily passed estimates of $89.9 million in the quarter, but the bottom line wasn't so impressive. Analysts expected the company to earn a penny, but it reported a loss of $0.20 per share.
Now what: Foreign currency transactions hurt results badly in the quarter, with a $13.1 million loss. Without that, operating income increased from $2.2 million a year ago to $3.1 million this year. So there is a silver lining despite the stock drop today.
I'm optimistic on the long-term prospects, but I just don't see the company as a great value now, given today's disappointing results.
Interested in more info on Ormat Technologies? Add it to your watchlist.
Fool contributor Travis Hoium has no position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his CAPS picks at TMFFlushDraw.
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