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Exhibit 99.1 Argan , Inc. Argan , Inc. Reports First Quarter Results June 8 , 2021 - ROCKVILLE , MD - Argan , Inc. ( NYSE : AGX ) ( " Argan " or the " Company " ) today announced financial results for its first quarter ended April 30 , 2021. For additional information , please read the Company's Quarterly Report on Form 10 - Q , which the Company intends to file today with the U.S. Securities and Exchange Commission ( the " SEC " ) . The Quarterly Report can be retrieved from the SEC's website at www.sec.gov or from the Company's website at www.arganinc.com . Summary Information ( dollars in thousands , except per share data ) April 30 , 2021 2020 Change For the Quarter Ended : Revenues $ Gross profit 126,341 $ 60,148 23,714 $ 66,193 4,009 19,705 Gross margin % 18.8 % 6.7 % 12.1 % Net income ( loss ) attributable to the stockholders of the Company Diluted per share $ 10,766 $ ( 763 ) $ 11,529 0.67 ( 0.05 ) 0.72 EBITDA attributable to the stockholders of the Company 15,644 ( 4,055 ) 19,699 Diluted per share 0.98 ( 0.26 ) 1.24 Cash dividends per share 0.25 0.25 As of : April 30 , 2021 January 31 , 2021 Change Cash , cash equivalents and short - term investments Net liquidity ( 1 ) RUPO ( 2 ) $ 466,750 $ 456,726 $ 10,024 275,966 270,133 478,743 552,531 ( 1 ) Net liquidity , or working capital , is defined as total current assets less total current liabilities . ( 2 ) The amount of remaining unsatisfied performance obligations ( " RUPO " ) represents the project backlog related to active contracts with customers , as determined under revenue recognition rules . 5,833 ( 73,788 ) " We are continuing the momentum from Fiscal 2021 into the first quarter of Fiscal 2022 with our third consecutive quarter of earnings per share equal to or in excess of $ 0.60 , ” Rainer Bosselmann , Chairman and Chief Executive Officer of Argan , said . " All of our business segments continue to rebound from the beginning of the COVID - 19 pandemic and produce increasing revenues and profit quarter over quarter . In addition , we were pleased to announce in May the award and start of an EPC services contract to build one of the largest solar power plants in Pennsylvania , which complements our core gas - fired power plant business , where we are executing on the Guernsey Power Station , which is the largest single - phase gas - fired power plant construction project in the US . " Consolidated revenues for the quarter ended April 30 , 2021 were $ 126.3 million , which represented an increase of $ 66.2 million , or 110.1 % , from consolidated revenues of $ 60.1 million reported for the three