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Exhibit 99.1 Argan , Inc. _ Argan , Inc. Reports Third Quarter Results December 8 , 2021 ROCKVILLE , MD Argan , Inc. ( NYSE : AGX ) ( " Argan " or the " Company " ) today announced financial results for its third quarter ended October 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 atwww.sec.gov or from the Company's website at www.arganinc.com . Summary Information ( dollars in thousands , except per share data ) For the Quarter Ended : Revenues Gross profit Gross margin % Net income Diluted per share EBITDA Diluted per share Cash dividends per share As of : Cash , cash equivalents and short - term investments Net liquidity ( 1 ) RUPO ( 2 ) October 31 , 2021 2020 Change $ $ 21.0 % 12,393 124,451 $ 127,331 26,135 20,343 16.0 % $ ( 2,880 ) 5,792 5.0 % $ 9,454 $ 2,939 0.78 0.60 0.18 16,708 12,286 4,422 1.05 0.78 0.27 0.25 0.25 October 31 , January 31 , 2021 2021 Change $ 481,564 $ 456,726 $ 24,838 300,674 270,133 30,541 491,559 552,531 ( 60,972 ) ( 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 . " During the quarter , we were delighted to announce our second major contract signing and project start this year , " Rainer Bosselmann , Chairman and Chief Executive Officer of Argan , said . " In May , Gemma Power Systems started a contract to build one of the largest solar power plants in Pennsylvania . In October , Atlantic Projects Company started a contract to construct a 2 x 330 MW natural gas - fired power plant in Carrickfergus , Belfast , Northern Ireland . These awards reflect our efforts to expand our business development activities to target our core gas - fired power plant business as well as the complementary renewable power sector business . We are disappointed that certain other awarded projects have taken longer to start than initially anticipated . However , we are pleased with the current execution on all of our major projects despite the well - publicized global supply chain disruptions and current inflationary challenges . As a result , we are happy to announce earnings of $ 12.4 million , or $ 0.78 in earnings per share for the quarter ended October 31 , 2021 , which is our fifth consecutive quarter of earnings per share equal to or in excess of $ 0.60 . "