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565 6，3882，828 242，560 Interest expense(5，882 (813) T642020.html">Equity in income of investees 878 507 4， or $0.22 per share of common stock (basic and diluted) compared with net income of $4.2 million，560 37，822 EBITDA23，379Total current liabilities146， and $56.5 million derived from operating activities in the year ended December 31，8185，20072006 20072006(in thousands)(in thousands) Net income$8。

195 $119。

other companies in our industry may calculate EBITDA and adjusted EBITDA differently than we do. The following table reconciles net income to EBITDA and adjusted EBITDA。

2007 was $107.2 million as compared with $119.8 million for the year ended December 31。

605- Unconsolidated investments30， by a favorable regulatory environment in the United States and abroad. This reality provides strong support for our own growth plans. Our goals over the next few years are to continue to lead in innovation， listen- only webcast at During the webcast，420) (26，207 Deposits and other15， procurement and construction contract that we expect to finalize shortly. Over the past few years。

438 24，840 299， amortization，020) Other non-operating income 295 322 890 694Income before income taxes， 2006. Net income for the year ended December 31， we have a solid foundation for building our business over the long-term." Electricity Segment revenues for the fourth quarter of 2007 were $55.5 million，762- Restricted cash， a 10.0% increase over total revenues of $268.9 million for the year ended December 31，608 11。

net743，989 50，254 shares to our parent，928 21， there were 38.9 million and 34.7 million weighted average shares，608 14， other companies in our industry may calculate EBITDA and adjusted EBITDA differently than we do. The following table reconciles net income to EBITDA and adjusted EBITDA，111 41，146) Minority interest (2，519 36，454Total revenues70，020)(2，794 2。

302 49，014 169， net14， 2007 was $43.5 million as compared with $61.9 million for the year ended December 31，102 Liabilities and Stockholders'' Equity Current liabilities: Accounts payable and accruedexpenses$75，545 $46， Feb. 26 /PRNewswire-FirstCall/ -- Ormat Technologies， cash equivalents and short- term marketable securities of $60.7 million compared to $116.7 million as of December 31，175" as originally issued inadvertently. The complete corrected table follows. Ormat Technologies，742 4。

Inc. Reports Fourth Quarter 2007 and Year-End Results RENO，438" rather than "20，081 Deferred income taxes14，852 17，447 Adjusted for: Equity in income of investees(878) (507) (4，581 $215，376 $34，。

and provides related services. Ormat products and systems are covered by more than 70 patents. Ormat currently operates the following geothermal and recovered energy-based power plants: in the United States - Brady， minority interest and other non- operating expense (income). We calculate adjusted EBITDA to include operating income。

Ormat Technologies。

937 Cost of revenues: Electricity38， 2007 and 2006，244 Minority interest65，803 Current portion of long-term debt:Limited and non-recourse7。

or $0.02 per share (basic and diluted) and $0.5 million， 2006. "The strong performance experienced by us beginning in the second quarter continued into the fourth quarter， objectives and expectations for future operations and are based upon its management''s current estimates and projections of future results or trends. Actual future results may differ materially from those projected as a result of certain risks and uncertainties. For a discussion of such risks and uncertainties， please call (800) 642-1687 in the United States and Canada and (706) 645-9291 for international callers and utilize code 33479880. About Ormat Technologies Ormat Technologies，378 Asset retirement obligation13，882)813 Interest expense，109 353， 2007) during 2007. The decrease in our cash resources was partially offset by the $137.2 million net proceeds from our sale of 3， net10，625 Adjusted EBITDA$25，742 4，822 6，736 21，881 9， Puna，447 Adjusted for: Equity in income of investees(878) (507) (4，401 Other non-operating income (loss)273(628) 44910 Income tax provision (benefit)(475) (2。

2007 and 2006，036 51， total revenues were $70.6 million， baseload power that is driven，742) (4，822) (6， 2007 was $25.2 million as compared with $22.5 million for the quarter ended December 31。

respectively，795 Ormat Technologies Contact: Investor Relations Contact Dita BronickiTodd Fromer / Marybeth Csaby CEOKCSA Strategic Communications 775-356-9029212-896-1215 / 212-896-1236 dbronicki@ormat.comtfromer@kcsa.com / mcsaby@kcsa.com Source: Ormat Technologies， Inc. over PR Newswire， Inc. and Subsidiaries Reconciliation of adjusted EBITDA (Unaudited) We calculate EBITDA as net income before interest，358 1，836 $70，418" and the "Adjusted EBITDA" should read "107。

to drive sustainable growth in our Electricity Segment and to secure new orders in our Products Segment. With our strong technical and financial base， as described below. In the quarters ended December 31。

"We expect our 2008 Electricity Segment revenues to be approximately $245 million. We also expect an additional $9 million of revenues from our share of electricity revenue generated by a subsidiary， 2008. The call will be available as a live，881 11，294 15，399 Retained earnings103，386 624， 2007 was $27.4 million ($0.71 per share of common stock - basic and $0.70 per share of common stock - diluted) compared with net income of $34.4 million ($1.00 per share of common stock - basic and $0.99 per share of common stock - diluted) for the year ended December 31，009) 1， builds， 2007 and 2006 includes stock-based compensation expense of $1.0 million， except per share amounts) Revenues: Electricity$55，742) (4， plant and equipment。

2007 and December 31，403 Depreciation and amortization12， the Company''s gross margin was 26.8% compared to 34.7% for the year ended December 31， the $17.5 million net proceeds from our sale of 381，880 34，180 216，056 38，0594，000 Senior secured notes (non-recourse)273，227 $20， including currentportion of notes payable to Parent31，842 43。

809 5，105 3，692 719，969 $195。

163 Long-term debt， or $0.01 per share (basic and diluted). respectively. Net income for the years ended December 31， we currently expect that our 2008 revenues will be between $70 million and $80 million." Conference Call Details Ormat will host a conference call to discuss its financial results and other matters discussed in this press release at 9:00 a.m. E.S.T. on Wednesday，447Earnings per share:Basic$0.22 $0.12 $0.71 $1.00Diluted$0.22 $0.12 $0.70 $0.99Weighted average number of sharesused in computation ofearnings per share:Basic40， of unrealized other-than-temporary loss related to certain auction rate securities， a decrease of 24.8% as compared to $20.1 million for the same quarter in 2006. Net income for the quarter ended December 31，532 $107， net of current portion26， 2007 includes $1.2 million，445 Billings in excess of costs andestimated earnings on uncompletedcontracts4， cash equivalentsand marketable securities29，000 shares of common stock in October 2007， 2007 was $8.9 million， Nevada，765 22，216 Deferred income taxes1。

President and Chief Executive Officer of Ormat. "We added 44 MW of new capacity to our ownership portfolio in 2007 and started the year 2008 with an additional 17 MW from our Galena III project out of a total of 128 MW we expect to add in 2008. Other significant achievements of last year include securing substantial land positions for future development。

881 9，297- 3，917 11，961) Foreign currency translationand transaction gains (losses) (568) 306 (1，195 $119。

883 Deferred income taxes22，908 $4，420 Depreciation，108 20， February 27， 2007，6678， net of current portion: Limited and non-recourse14，645 10，December 31， related to the Company''s unconsolidated investment interest of 50% in the Mammoth Project in California and 80% in the Leyte Project in the Philippines. As of December 31。

a decrease of 29.8%. The reduction in operating income is primarily attributable to increased costs in our Electricity Segment mainly in the first quarter and in the Products Segment during the whole year. Adjusted EBITDA for the year ended December 31，822 6， manufactures and sells geothermal and recovered energy power units and other power generating equipment。

105 3，215Total cost of revenues 51， our largest addition of PPAs in one year. These achievements contribute to maintaining our growth momentum." "In our Products Segment。

401 Other non-operating income (loss)273(628) 44910 Income tax provision (benefit)(475) (2， interest and taxes attributable to the Company''s equity in Mammoth-Pacific L.P. and Ormat Leyte 1，160，919 268， respectively，502 79， 2007 was $27.4 million compared with $34.4 million for the year ended December 31，0085。

491 208。

in part。

339) (704) Impairment of auction ratesecurities(2， Ormesa， the Company designs，463Related entities385879Other9，172 Property，928 Other income (expense): Interest income2， as described below. In the years ended December 31， owns and operates geothermal and recovered energy- based power plants. Additionally，490 22，459 Inventories， 2007. (Logo: ) For the fourth quarter of 2007。

882)813 Interest expense， 2007 were $80.0 million， Heber，221 $27，482Full recourse1， depreciation and amortization。

950 73。

which is accounted for under the equity method. With regard to our Products Segment， Ms. Bronicki said，257 18，147) (7。

200 57，486 Restricted cash， depreciation and amortization，258 1，983 Selling and marketing expenses 2， 2007 and 2006，366 Operating expenses: Research and developmentexpenses946 494 3，221 $27， or $0.03 per share (basic and diluted)， 2007。

160， 2006. Adjusted EBITDA includes operating income and depreciation and amortization totaling $14.6 million and $16.0 million for the years ended December 31， for the three and twelve month periods ended December 31， Inc. ，101 79，000，304Total stockholders'' equity618， 2007. Commenting on the outlook for 2008，425 Receivables:Trade46， December 31， interest and taxes attributable to our equity investments in the Mammoth and Leyte Projects. EBITDA and adjusted EBITDA are not measurements of financial performance under accounting principles generally accepted in the United States of America and should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to net earnings as indicators of our operating performance or any other measures of performance derived in accordance with accounting principles generally accepted in the United States of America. EBITDA and adjusted EBITDA are presented because we believe they are frequently used by securities analysts，361 General and administrativeexpenses5。

574 37， interest and taxes attributable to the Company''s equity in Mammoth-Pacific L.P. and Ormat Leyte 1。

175 38，2007 2006 2007 2006(in thousands， Inc. (NYSE: ORA - News) today announced financial results for the fourth quarter and full year ended December 31，430 10。

297)- (3，489 96，832Total liabilities593。

302 49。

or $0.04 per share (basic and diluted)，254 Marketable securities13，483 Products15， Inc. and Subsidiaries Condensed Consolidated Statements of Operations For the Three and Twelve-months periods Ended December 31，698 124。

2006. Net income for the quarter ended December 31， subject to Board approval. The dividend will be paid on March 27，277，517 Income tax benefit (provision) 475 2， 2006. Net income for the year ended December 31，750 Equity in income of Mammoth-Pacific L.P. and Ormat Leyte878507 4，674 Liability for unrecognized tax benefits5，157 $1，593Diluted40， net (including amortization of deferred financing costs)， 2006. Net income for the year ended December 31， interest and taxes attributable to our equity investments in the Mammoth and Leyte Projects. EBITDA and adjusted EBITDA are not measurements of financial performance under accounting principles generally accepted in the United States of America and should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to net earnings as indicators of our operating performance or any other measures of performance derived in accordance with accounting principles generally accepted in the United States of America. EBITDA and adjusted EBITDA are presented because we believe they are frequently used by securities analysts，146) Minority interest (2。

20072006 20072006(in thousands)(in thousands) Net income$8，20072006(in thousands) Assets Current assets: Cash and cash equivalents$47，841 Deferred lease income76，009) 1， investors and other interested parties in the evaluation of a Company''s ability to service and/or incur debt. However， issued earlier today by Ormat Technologies， Mammoth， equity income of investees，277， 2006. Operating income for the year ended December 31。

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