Argan 2Q EPS 12c Vs Net Loss 3c/Share >
AGX
Dow Jones Newswires - September 12, 2007 10:57 AM ET
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AGX Trade 8.37 -0.03
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DOW JONES NEWSWIRES
Argan Inc. (AGX) on Wednesday reported second-quarter net income of $1.3 million, or 12 cents a share, swinging from a net loss of $155,000, or 3 cents a share, in the previous year's second quarter.
In its report for the three months ended July 31, filed with the Securities and Exchange Commission, the Rockville, Md., holding company said net sales totaled $53.14 million, up sharply from $8.56 million a year earlier.
Argan attributed the increase to sales of its power-industry services of $45.6 million. The company didn't have any such sales in last year's second quarter.
The company's main business, through subsidiary Gemma Power Systems, is designing and building plants for the alternative-energy industry. Argan has two other units - Southern Maryland Cable Inc., which provides wiring services to secure government and military sites, and Vitarich Laboratories, a producer of nutritional supplements.
Argan shares traded Wednesday morning at $8.50, up 10 cents.
-Chad Clinton, Dow Jones Newswires; 202-862-1349; chad.clinton@dowjones.com |
