JERUSALEM Nov 13 Israeli geothermal energy
producer Ormat Industries moved to a profit in the
third quarter, helped by a drop in financing expenses.
Ormat on Tuesday reported a quarterly net profit of $2.2
million, compared with a loss of $983,000 a year earlier.
Financing expenses fell by $8.1 million.
Revenue grew 23 percent to $136.1 million.
The company recorded a $2.4 million writedown at a U.S.
power plant which has not yet reached full output.
Ormat is the parent of U.S.-based Ormat Technologies
, which last week reported a third-quarter loss per share
of 1 cent on revenue of $136.1 million.