Argan, Inc. (AGX) (the “Company”) today announced financial results for its second quarter ended July 31, 2016. Please read the Company’s Quarterly Report on Form 10-Q, which the Company expects to file tomorrow with the U.S. Securities and Exchange Commission (the “SEC”), which can be retrieved from the SEC’s website at www.sec.gov or from the Company’s website at www.arganinc.com.
Revenues increased 25% to $162 million for the quarter ended July 31, 2016 as compared to $130 million in the prior quarter.
Gemma Power Systems (GPS) reached substantial completion on two large, gas-fired power plants in April and June 2016, respectively.
Argan’s primary business is providing a full range of services to the power industry including the engineering, procurement and construction of gas-fired and biomass-fired power plants, along with related commissioning, operations management, maintenance, project development and consulting services, through its Gemma Power Systems and Atlantic Projects Company operations.