$AGX
ARGAN INC

2014 Q2 Form 10-Q Financial Statement

#000119312514229376 Filed on June 09, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $51.19M $46.65M
YoY Change 9.74% -26.76%
Cost Of Revenue $41.14M $33.62M
YoY Change 22.37% -37.28%
Gross Profit $10.05M $13.03M
YoY Change -22.85% 28.98%
Gross Profit Margin 19.63% 27.93%
Selling, General & Admin $3.379M $3.443M
YoY Change -1.86% 14.77%
% of Gross Profit 33.62% 26.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $142.0K $129.0K
YoY Change 10.08% -35.5%
% of Gross Profit 1.41% 0.99%
Operating Expenses $3.379M $3.443M
YoY Change -1.86% 14.77%
Operating Profit $6.672M $9.585M
YoY Change -30.39% 34.98%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $22.00K $155.0K
YoY Change -85.81%
Pretax Income $6.694M $10.86M
YoY Change -38.36% 52.96%
Income Tax $1.894M $3.920M
% Of Pretax Income 28.29% 36.1%
Net Earnings $3.475M $6.410M
YoY Change -45.79% 44.43%
Net Earnings / Revenue 6.79% 13.74%
Basic Earnings Per Share $0.24 $0.46
Diluted Earnings Per Share $0.24 $0.45
COMMON SHARES
Basic Shares Outstanding 14.30M shares 13.97M shares
Diluted Shares Outstanding 14.68M shares 14.13M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $313.8M $169.4M
YoY Change 85.24% -3.37%
Cash & Equivalents $313.8M $169.4M
Short-Term Investments
Other Short-Term Assets $2.312M $7.200M
YoY Change -67.89% 148.28%
Inventory $200.0K $1.100M
Prepaid Expenses $2.749M
Receivables $28.68M $19.40M
Other Receivables $0.00 $0.00
Total Short-Term Assets $347.7M $197.0M
YoY Change 76.5% -1.1%
LONG-TERM ASSETS
Property, Plant & Equipment $4.107M $7.400M
YoY Change -44.5% 94.74%
Goodwill $18.48M $18.48M
YoY Change 0.0%
Intangibles $2.028M
YoY Change
Long-Term Investments
YoY Change
Other Assets $400.0K
YoY Change -42.86%
Total Long-Term Assets $24.61M $28.59M
YoY Change -13.91% 12.1%
TOTAL ASSETS
Total Short-Term Assets $347.7M $197.0M
Total Long-Term Assets $24.61M $28.59M
Total Assets $372.3M $225.6M
YoY Change 65.04% 0.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.68M $28.50M
YoY Change -9.91% 1.06%
Accrued Expenses $3.630M $9.100M
YoY Change -60.11% 85.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $207.6M $99.00M
YoY Change 109.74% -16.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $207.6M $99.00M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $208.0M $97.80M
YoY Change 112.69% -17.61%
SHAREHOLDERS EQUITY
Retained Earnings $56.81M
YoY Change
Common Stock $104.7M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $33.00K
YoY Change
Treasury Stock Shares 3.233K shares
Shareholders Equity $161.5M $127.8M
YoY Change
Total Liabilities & Shareholders Equity $372.3M $225.6M
YoY Change 65.03% 0.4%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $3.475M $6.410M
YoY Change -45.79% 44.43%
Depreciation, Depletion And Amortization $142.0K $129.0K
YoY Change 10.08% -35.5%
Cash From Operating Activities $40.54M -$3.553M
YoY Change -1240.9% -117.94%
INVESTING ACTIVITIES
Capital Expenditures $46.00K $684.0K
YoY Change -93.27% -157.0%
Acquisitions
YoY Change
Other Investing Activities -$300.0K
YoY Change
Cash From Investing Activities -$366.0K -$684.0K
YoY Change -46.49% -43.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.382M -1.518M
YoY Change -191.04% -1618.0%
NET CHANGE
Cash From Operating Activities 40.54M -3.553M
Cash From Investing Activities -366.0K -684.0K
Cash From Financing Activities 1.382M -1.518M
Net Change In Cash 41.55M -5.755M
YoY Change -822.02% -130.78%
FREE CASH FLOW
Cash From Operating Activities $40.54M -$3.553M
Capital Expenditures $46.00K $684.0K
Free Cash Flow $40.49M -$4.237M
YoY Change -1055.63% -120.18%

Facts In Submission

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DocumentType
10-Q
CY2014Q2 dei Document Period End Date
DocumentPeriodEndDate
2014-04-30
CY2014Q2 dei Entity Central Index Key
EntityCentralIndexKey
0000100591
CY2014Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--01-31
CY2014Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
71000 shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0126 pure
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14683000 shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3383 pure
CY2014Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2014Q2 us-gaap Variable Interest Entity Number Of Entities With Unavailability Of Information
VariableInterestEntityNumberOfEntitiesWithUnavailabilityOfInformation
2 Project
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.24
CY2014Q2 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2015-05-31
CY2014Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y9M4D
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsMethodUsed
Black-Scholes option-pricing model
CY2014Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y9M22D
CY2014Q2 us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
LIBOR plus 2.25%
CY2014Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
27.09
CY2014Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
383000 shares
CY2014Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
3.27
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.28
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0277 pure
CY2014Q2 us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.0225 pure
CY2014Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
40790000
CY2014Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
13.50
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
180500 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14299000 shares
CY2014Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y11M23D
CY2014Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
83500 shares
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2014Q2 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1846000
CY2014Q2 us-gaap Contracts Revenue
ContractsRevenue
51191000
CY2014Q2 us-gaap Gross Profit
GrossProfit
10051000
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6694000
CY2014Q2 us-gaap Increase Decrease In Notes Receivables
IncreaseDecreaseInNotesReceivables
320000
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
22000
CY2014Q2 us-gaap Income Tax Reconciliation Deductions
IncomeTaxReconciliationDeductions
715000
CY2014Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
1587000
CY2014Q2 us-gaap Profit Loss
ProfitLoss
4800000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
6672000
CY2014Q2 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5233000
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
3475000
CY2014Q2 us-gaap Increase Decrease In Cost In Excess Of Billing On Uncompleted Contract
IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract
-327000
CY2014Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
46000
CY2014Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1325000
CY2014Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1660000
CY2014Q2 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
343000
CY2014Q2 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-34000
CY2014Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
808000
CY2014Q2 us-gaap Cost Of Services
CostOfServices
41140000
CY2014Q2 us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
48000
CY2014Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1076000
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1156000
CY2014Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2014Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
41552000
CY2014Q2 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
300000
CY2014Q2 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
2343000
CY2014Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-46000
CY2014Q2 us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
42781000
CY2014Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1128000
CY2014Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
60000
CY2014Q2 us-gaap Depreciation
Depreciation
142000
CY2014Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
85000
CY2014Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
343000
CY2014Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3379000
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1894000
CY2014Q2 agx Share Based Compensation Arrangement By Share Based Payment Award Options Exercised Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedWeightedAverageRemainingContractualTerm
CY2014Q2 agx Share Based Compensation Arrangement By Share Based Payment Award Options Granted Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm
CY2014Q2 agx Federal State And Local Income Tax Examination Applicability Description
FederalStateAndLocalIncomeTaxExaminationApplicabilityDescription
No longer subject to federal, state and local income tax examinations by tax authorities for its fiscal years ended on or before January 31, 2010.
CY2014Q2 agx Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Stock Option Granted Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsStockOptionGrantedWeightedAverageGrantDateFairValue
CY2014Q2 agx Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Stock Option Exercised Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsStockOptionExercisedWeightedAverageGrantDateFairValue

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agx-20140430.xml Edgar Link completed
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