November 6, 2009 ndash; Analyst Comments - Global Hunterrsquo;s Justin Cable weighed in this morning on Ormatrsquo;s (NYSE:ORA) Q3 results, which came in above expectations. Cable maintains a NEUTRAL rating citing sharp pullback in products due to soft bookings. Q3 Results Ormat reported a 20% Y/Y increase in Q3 revenues to $119.8 million and net income of $23.4 million, or $0.52 per share, compared with $15.8 million for the same period last year. Management said it expects the electricity segment revenues for 2009 to be between $254 and $258 million, with an additional $9 million of revenue from its share of electricity revenue generated by a subsidiary, which is accounted for under the equity method. For its Product Segment results it increased its guidance to approximately $150 million.Cablersquo;s Key Takeaways middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Believes geothermal outlook remains long-term positive, and Ormat best positioned to benefit middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Remains cautious about tight credit markets and future government awards which could stall projects in the near-term middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Product backlog decreased 40.2% sequentially and 57.6% Y/Y; guidance implied 34% in Products revenue in Q4 and outlook is that 2010 Product revenues may not achieve 2009 levelsmiddot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Maintains NEUTRAL rating and $45 price target

November 6, 2009 ndash; Analyst Comments - Global Hunterrsquo;s Justin Cable weighed in this morning on Ormatrsquo;s (NYSE:ORA) Q3 results, which came in above expectations. Cable maintains a NEUTRAL rating citing sharp pullback in products due to soft bookings. Q3 Results Ormat reported a 20% Y/Y increase in Q3 revenues to $119.8 million and net income of $23.4 million, or $0.52 per share, compared with $15.8 million for the same period last year. Management said it expects the electricity segment revenues for 2009 to be between $254 and $258 million, with an additional $9 million of revenue from its share of electricity revenue generated by a subsidiary, which is accounted for under the equity method. For its Product Segment results it increased its guidance to approximately $150 million. Cablersquo;s Key Takeaways middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Believes geothermal outlook remains long-term positive, and Ormat best positioned to benefit middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Remains cautious about tight credit markets and future government awards which could stall projects in the near-term middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Product backlog decreased 40.2% sequentially and 57.6% Y/Y; guidance implied 34% in Products revenue in Q4 and outlook is that 2010 Product revenues may not achieve 2009 levels middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Maintains NEUTRAL rating and $45 price target

Editor Sam Hopkins takes a look at the U.S. Army's new drive to make bases energy-independent and how global green companies play a major role.

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