QUARTERLY FINANCIAL INFORMATION (unaudited)

12 Months Ended

Jan. 31, 2019

QUARTERLY FINANCIAL INFORMATION (unaudited)

QUARTERLY FINANCIAL INFORMATION (unaudited)

NOTE 18 – QUARTERLY FINANCIAL INFORMATION (unaudited)

Certain unaudited financial information reported for the quarterly periods ended April 30, July 31, October 31 and January 31 included in the years ended January 31, 2019 and 2018 is presented below:

2019	April 30		July 31		October 31 (1)		January 31 (1)		Full Year
Revenues	$	141,366	$	136,670	$	116,459	$	87,658	$	482,153
Gross profit		15,452		30,708		29,532		6,746		82,438
Income (loss) from operations		5,815		20,330		18,385		(4,293)		40,237
Net income (loss) (2)		4,837		16,972		32,434		(2,207)		52,036
Earnings (loss) per share (2),(3)
Basic	$	0.31	$	1.09	$	2.08	$	(0.14)	$	3.34
Diluted	$	0.31	$	1.08	$	2.07	$	(0.14)	$	3.32
2018	April 30		July 31		October 31		January 31		Full Year
Revenues	$	230,489	$	259,803	$	232,945	$	169,578	$	892,815
Gross profit		40,096		51,407		37,718		20,104		149,325
Income from operations		30,607		40,608		27,599		8,163		106,977
Net income (2)		20,625		27,139		17,229		7,018		72,011
Earnings per share(2),(3)
Basic	$	1.33	$	1.75	$	1.11	$	0.45	$	4.64
Diluted	$	1.31	$	1.72	$	1.09	$	0.45	$	4.56

⁽¹⁾ The net income reported by the Company for the quarterly periods ended October 31, 2018 and January 31, 2019 reflected favorable adjustments recorded to recognize research and development tax credits in the amounts of $16.5 million and $0.1 million, respectively (see Note 13).

⁽²⁾ The net income and earnings per share amounts are attributable to the stockholders of Argan, Inc.

⁽³⁾ Earnings per share amounts for the quarter periods may not cross-foot to the corresponding full-year amounts as the amounts for each quarter are calculated independently of the calculations for the full-year amounts.