EARNINGS PER SHARE ATTRIBUTABLE TO THE STOCKHOLDERS OF ARGAN, INC.

9 Months Ended

Oct. 31, 2017

EARNINGS PER SHARE ATTRIBUTABLE TO THE STOCKHOLDERS OF ARGAN, INC.

EARNINGS PER SHARE ATTRIBUTABLE TO THE STOCKHOLDERS OF ARGAN, INC.

NOTE 13 — EARNINGS PER SHARE ATTRIBUTABLE TO THE STOCKHOLDERS OF ARGAN, INC.

Reconciliations of the number of weighted average basic shares outstanding to the number of weighted average diluted shares outstanding and the computations of basic and diluted earnings per share for the three and nine months ended October 31, 2017 and 2016 are as follows (shares in thousands):

	Three Months Ended October 31,
	2017		2016
Net income attributable to the stockholders of Argan, Inc.	$	17,229	$	18,073
Weighted average number of shares outstanding - basic	15,545		15,137
Effect of stock options (1)	248		464
Weighted average number of shares outstanding - diluted	15,793		15,601
Net income per share attributable to the stockholders of Argan, Inc.
Basic	$	1.11	$	1.19
Diluted	$	1.09	$	1.16

	Nine Months Ended October 31,
	2017		2016
Net income attributable to the stockholders of Argan, Inc.	$	64,993	$	49,977
Weighted average number of shares outstanding - basic	15,509		14,974
Effect of stock options (1)	287		516
Weighted average number of shares outstanding - diluted	15,796		15,490
Net income per share attributable to the stockholders of Argan, Inc.
Basic	$	4.19	$	3.34
Diluted	$	4.11	$	3.23

(1) Antidilutive shares excluded from the diluted computations were 155,000 for the three and nine months ended October 31, 2017. The comparable numbers for the prior year were not material.