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ORMAT Reports Q2 2007 Results

ORMAT Technologies, Inc. (NYSE: ORA) has announced financial results for the second quarter ended June 30, 2007. For the second quarter of 2007, the Company reported total revenue of $84.1 million versus $64.1 million for the second quarter of 2006, an increase of 13.5% in the Electricity Segment and an increase of 87.3% in the Products Segment. The gross margin in the Electricity Segment was 36.2%, similar to the second quarter of 2006, while the gross margin in the Products Segment was 15.6%, an increase compared to the first quarter of 2007 but lower than the second quarter of 2006. Gross margins in the Electricity Segment have returned to pre-first quarter levels; however, margin pressure in the Products Segment remains, as we continue to fulfill contracts for products that do not have built-in escalations. Net income for the quarter was $8.5 million, or $0.22 per share, compared to $8.4 million, or $0.24 per share, in the second quarter of 2006. There were 38.3 million weighted average shares used in the computation of diluted earnings per share in the second quarter of 2007 and 35.3 million weighted average shares during the same period of 2006. Commenting on the results for the […]

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SatCon Reports Q2 2007 Results

SatCon Technology Corporation© (NASDAQ CM: SATC) has announced its operating results for the quarter ended June 30, 2007. “This has been a strong revenue growth quarter for SatCon,” said David Eisenhaure, President and Chief Executive Officer. “As we have been predicting for some time, the Photovoltaic Inverter market opportunity is experiencing rapid growth and we have been positioned well to take advantage of the technical strength of our products.” For the quarter our: o Revenues increased 31% over last year to $11.7 million. o Photovoltaic Inverters represented $3.8 million or over 30% of that total, a 70% increase over last year – highlighting our growth in this major market segment. o Year to date our photovoltaic inverter revenues have more than doubled over last year to $7 million dollars. In addition to our revenue increases: o Our backlog grew to a record $48 million at the end of the quarter, an 80% increase over last year. o We have continued to deliver a positive sales order booking to revenue ratio for the last 9 quarters. o As a result, we continue to project that we will have revenues of $50 million for the year with an expectation of over $30 […]

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