Ormat Technologies Swung Profitable (ORA, HIMX, WTI, URS)
Ormat Technologies, Inc. (NYSE:ORA) reported a first-quarter profit of $8.0 million or $0.17 per share, as compared to a loss of $9.0 million or $0.20 per share in the year-earlier quarter. Earnings were helped mainly by improved gross margins and higher revenues. First-quarter revenues increased 35.3% to $132.4 million Analysts expected the company to earn $0.05 per share on revenues of $112.99 million for the quarter.
Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) shares climbed 15% to $2.30 in the after hour trading after the company reported a first-quarter net profit of $11.31 million or $0.066 per ADS, as compared to $2.72 million or $0.015 per ADS last year. Adjusted net income for the quarter rose to $12.15 million or $0.071 per ADS. Total revenues for the quarter grew 18.1% to $166.69 million.
Looking ahead, the company expects second quarter earnings in the range of $0.08 to $0.10 per ADS. Revenues are anticipated to have sequential growth of 15% to 20%.
W&T Offshore, Inc. (NYSE:WTI) reported first-quarter net income of $3.2 million or $0.04 per share, as compared to $18.6 million or $0.25 per share in the same period last year. Adjusted net income was $30.6 million or $0.40 per share. Revenues for the quarter grew to $235.9 million from $210.9 million in the same period last year. Analysts expected earnings of $0.49 per share on revenues of $247.92 million for the quarter.
Looking forward, the company still expects fiscal 2012 production in the range of 16.9-18.8 MMBoe
URS Corp (NYSE:URS) first-quarter earnings rose 28% as the company reported modest revenue growth and lower overhead costs.
The company reported first-quarter net income of $79.7 million or $1.07 per share, as compared to $62.1 million or $0.79 per share in first quarter last year. Adjusted net income was $83.1 million or $1.12 per share. Revenues grew to $2.36 billion from $2.32 billion in same quarter last year. Analysts expected earnings of $1.05 per share on revenues of $2.43 billion for the quarter.
Looking forward, the company expects 2012 earnings of $3.95 to $4.05 per share, and revenues of $9.9 billion to $10.1 billion. Analysts currently estimate earnings of $4.02 per share on revenues of 10.26 billion.