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Exhibit 99.1 Argan , Inc. - Argan , Inc. Reports Second Quarter Results September 7 , 2021 – ROCKVILLE , MD Argan , Inc. ( NYSE : AGX ) ( " Argan " or the " Company " ) today announced financial results for its second quarter ended July 31 , 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 ) July 31 , 2021 2020 Change For the Quarter Ended : Revenues $ Gross profit Gross margin % 20.8 % 133,008 $ 87,492 $ 27,652 15,630 17.9 % 45,516 12,022 2.9 % Net income attributable to the stockholders of the Company Diluted per share $ 12,870 $ 5,609 $ 7,261 0.81 0.36 0.45 EBITDA attributable to the stockholders of the Company 18,145 8,153 9,992 Diluted per share 1.14 0.52 0.62 Cash dividends per share 0.25 1.25 ( 1 ) ( 1.00 ) July 31 , As of : 2021 January 31 , 2021 Change Cash , cash equivalents and short - term investments Net liquidity ( 2 ) RUPO ( 3 ) $ 491,480 $ 456,726 $ 34,754 290,309 270,133 20,176 467,877 552,531 ( 84,654 ) ( 1 ) The Company declared and paid a $ 1.00 per share special dividend during the three months ended July 31 , 2020 . ( 2 ) Net liquidity , or working capital , is defined as total current assets less total current liabilities . ( 3 ) The amount of remaining unsatisfied performance obligations ( " RUPO " ) represents the project backlog related to active contracts with customers , as determined under revenue recognition rules . " We are pleased to announce our most profitable quarter since 2018 with $ 0.81 in earnings per share , which is our fourth 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 generated gross profit margins in excess of 20 % and we are on pace to generate over $ 0.5 billion in revenues for the fiscal year . These successes during the ongoing COVID - 19 pandemic reflect the talent and adaptability of our employees . We have reached peak construction on the Guernsey Power Station , which is the largest single - phase gas - fired power plant construction project in the US . Additionally , we started work on an EPC services contract to build one of the largest solar power plants in Pennsylvania , which complements our core gas - fired power plant business . "