Income (Loss) Per Share

9 Months Ended

Oct. 31, 2012

Income (Loss) Per Share [Abstract]

INCOME (LOSS) PER SHARE

NOTE 13 - INCOME (LOSS) PER SHARE

Basic income (loss) per share amounts for the three and nine months ended October 31, 2012 and 2011 were computed by dividing income (loss) by the weighted average number of shares of common stock that were outstanding during the applicable period.

Diluted income per share amounts for the three months ended October 31, 2012 and 2011 were computed by dividing the income amounts by the weighted average number of outstanding common shares for the applicable period plus 284,000 and 135,000 common stock equivalent shares representing their total dilutive effects for the periods, respectively. The diluted weighted average number of shares outstanding for the three months ended October 31, 2012 and 2011 excluded the effects of options to purchase approximately 121,000 and 458,000 shares of common stock, respectively, because such anti-dilutive common stock equivalents had exercise prices that were in excess of the average market price of the Company’s common stock during the applicable period. Diluted income per share amounts for the nine months ended October 31, 2012 and 2011 were computed by dividing the income amounts by the weighted average number of outstanding common shares for the applicable period plus 347,000 shares and 111,000 shares representing the total dilutive effects of outstanding stock options and warrants during the periods, respectively. The diluted weighted average number of shares outstanding for the nine months ended October 31, 2012 and 2011 also excluded the anti-dilutive effects of options to purchase approximately 389,000 and 508,000 shares of common stock, respectively.

Diluted loss per share amounts for discontinued operations for the nine months ended October 31, 2012 and the three months ended October 31, 2011 were computed by dividing the loss amount by the weighted average number of outstanding common shares for the applicable period. The effects of outstanding options and warrants to purchase shares of common stock were not reflected in the computations as the losses made the common stock equivalents anti-dilutive for the periods.

The income per share amounts for continuing operations attributable to the stockholders of Argan for the three and nine months ended October 31, 2012 were based on the amounts of income from continuing operations excluding the net losses attributable to the noncontrolling interest; such income amounts were $6,065,000 and $16,989,000, respectively.