Israel's Ormat Industries moves to a loss in Q1
TEL AVIV May 12 (Reuters) - Israeli geothermal energy producer Ormat Industries moved to a loss in the first quarter, weighed down by a 13.6 percent drop in revenue from electricity and a one-time contract termination fee of $9 million.
Ormat said on Sunday it posted a quarterly net loss of $1.3 million, compared with a profit of $5.8 million a year earlier. Revenue fell to $121.7 million from $132.4 million.
Ormat is the parent of U.S.-based Ormat Technologies , which last week reported a first quarter loss of $1.9 million on revenue of $121.7 million.
- Islamic State threat 'beyond anything we've seen': Pentagon
- British Muslims blame jihadi subculture after beheading video |
- Israeli air strike kills three Hamas commanders in Gaza |
- U.S. aid workers who survived Ebola leave Atlanta hospital |
- National Guard to withdraw from riot-torn Ferguson, Missouri |