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

3 Months Ended

Apr. 30, 2018

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.

The computations of basic and diluted earnings per share for the three months ended April 30, 2018 and 2017 are as follows (shares in thousands except in footnote 1 below):

	Three Months Ended April 30,
	2018		2017
Net income attributable to the stockholders of Argan, Inc.	$	4,837	$	20,625
Weighted average number of shares outstanding - basic	15,568		15,467
Effect of stock options (1,2)	88		304
Weighted average number of shares outstanding - diluted	15,656		15,771
Net income per share attributable to the stockholders of Argan, Inc.
Basic	$	0.31	$	1.33
Diluted	$	0.31	$	1.31

(1) Antidilutive stock options for the three months ended April 30, 2018 and 2017 covered approximately 487,000 shares and 165,000 shares, respectively.

(2) The effect of restricted stock units on earnings per share for the three months ended April 30, 2018 was not material.