Business Context and Reporting Period
Company: Ormat Technologies, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: April 8, 2005
Subject: Correction of previously reported financial data for the fourth quarter and fiscal year ended December 31, 2004.
Key Financial Metrics
This filing addresses a computation error regarding share counts and earnings per share (EPS). No revenue, profit totals, cash flow, or debt figures are disclosed in this specific document.
| Metric | Period | Previously Reported | Corrected Value |
|---|---|---|---|
| Weighted Average Shares | Q4 2004 | 24,969,000 | 27,969,000 |
| Net Income Per Share | Q4 2004 | $0.19 | $0.17 |
| Net Income Per Share | Full Year 2004 | $0.72 | $0.72 (Unchanged) |
Material Changes Versus Prior Period
The filing does not report operational changes or year-over-year performance trends. The material change is strictly a restatement of Q4 2004 EPS due to an error in the weighted average share count calculation. The full-year 2004 EPS remains unchanged at $0.72.
Guidance, Outlook, and Risks
Management Commentary: The Company intends to file a Form 10-K/A to revise Note 18 (Unaudited) of Item 8 in its Form 10-K to reflect the corrected data.
Risks and Contingencies: The filing includes a Safe Harbor Statement regarding forward-looking statements, noting that actual results may differ materially from projections due to risks and uncertainties detailed in the "Risk Factors" section of the Form 10-K filed on March 28, 2005.
Investor Verification Checklist
- Verify the corrected Q4 2004 EPS of $0.17 in updated financial models.
- Confirm the corrected weighted average share count of 27,969,000 for Q4 2004.
- Monitor the upcoming filing of Form 10-K/A to ensure the restatement is officially recorded in the annual report.
- Note that the full-year 2004 EPS of $0.72 was not affected by this error.