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This is still an unknown alternative energy play, a manufacturer of bio-diesel and ethanol power plants and now WIND!!. They currently have $500,000,000 backlog and are running at over $200,000,000 Revenues for the current fiscal year. We start the thread on an uptick to $7.96 - $8.00. There are 11,000,000 shares outstanding and $33,000,000 Million in cash, or $3.00 per share. (from their latest financial statement) (now 13,000,000 after doing a PPM at 12.5 to one buyer!) These are the company's last press releases taken from their website at arganinc.com Argan, Inc. News Releases August 21, 2007 August 21, 2007 -- Rockville, MD – Argan, Inc. (OTCBB: AGAX), today announced that its common stock has been approved for listing on the American Stock Exchange (AMEX) and is expected to commence trading under the trading symbol “AGX” effective with the opening of the market on August 22, 2007. More... April 30, 2007 Rockville, MD- Argan, Inc. (OTCBB: AGAX) today announced financial results for the fourth quarter and fiscal year ended January 31, 2007. - Fiscal 2007 Revenues Increase 142% To $68.9 Million. More... December 8, 2006 Argan, Inc. (OTC BB; BSE: AGAX.OB; AGX)announced the merger of Gemma Power Systems, LLC., a leading powerplant builder with expertise in the rapidly growing alternative fuel industry including biodiesel, ethanol and other power energy systems. More... August 17, 2006 Argan, Inc. (OTC BB; BSE: AGAX.OB; AGX) has entered into a Letter of Intent detailing its proposed merger with Gemma Power Systems, LLC (Gemma). More... July 24, 2006 Argan, Inc. (OTC BB; BSE: AGAX.OB; AGX) has entered into a Letter of Intent detailing its proposed merger with Supplement and Nutrition Technologies, Inc. (SNT). More... February 1, 2005 Argan, Inc. (OTC BB; BSE: AGAX.OB; AGX) announces private sale of securities. More... Argan is a publicly traded holding company (AMEX: AGX) that focuses on companies that provide products and services to growth industries. We seek as partners, companies that can benefit from our ability to finance their growth, either internally, through strategic acquisitions or through a combination of these methods. Our current portfolio of wholly owned subsidiaries includes Gemma Power Systems LLC, Southern Maryland Cable Inc., and Vitarich Laboratories. Gemma Power Systems LLC (www.gemmapower.com) , is a leading power plant designer and builder with expertise in engineering, design, procurement and construction. The company has a solid success record not only in developing traditional energy plants but also in creating facilities for the rapidly growing alternative fuel industry, including biodiesel, ethanol, and other renewable energy sources. Our merger with Gemma was completed on December 8, 2006. Southern Maryland Cable, Inc. (www.smcinc.biz) , provides inside premise wiring services to the federal government including military installations and government office sites requiring high-level security clearance. The company also provides underground and aerial construction services and splicing to major telecommunications and utilities customers. Vitarich Laboratories (www.vitarichlabs.com) is a farm to market, vertically integrated private label manufacturer that manufactures, packages, and distributes premium nutraceutical products, including nutritional and whole food dietary supplements and other personal healthcare products. Argan, Inc. One Church Street, Suite 401, Rockville, MD 20850 Phone: 301-315-0027. fax 301-315-0064 Copyright 2004 - All rights reserved arganinc.com Argan, Inc. (OTCBB:AGAX) today announced financial results for the first quarter ended April 30, 2007. Net sales for the quarter were $50.4 million compared to $8.96 million for the three months ended April 30, 2006. Gemma Power Systems, acquired in December 2006, contributed $43.4 million in revenues for the quarter. Revenue for the quarter at Southern Maryland Cable (SMC) declined to $2.1 million from $3.1 million in the same quarter last year and revenue at Vitarich Laboratories, Inc. (VLI) decreased to $4.9 million from $5.8 million. Net loss for the quarter was $2.0 million, or $0.18 per share based on 11,094,000 shares outstanding, compared to a net loss of $18,000, or $0.00 per share based on 3,814,000 shares outstanding in the first three months of last year. The Company believes that the Non-GAAP Measurement of Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) provides investors with a valuable supplemental measure of our operating performance. EBITDA for the first quarter ended April 30, 2007 was a loss of $362,000 compared to EBITDA of $857,000 in the first quarter of last year. Cash and cash equivalents at April 30, 2007 increased to $32.6 million from $25.4 million at January 31, 2007. Rainer Bosselmann, Chairman and Chief Executive Officer, stated, “During the quarter, we experienced an unexpected increase in costs related to one of our Gemma contracts. These higher costs, primarily stemming from labor rate increases due to overtime requirements and additional material costs, have resulted in a forecasted loss for the project of approximately $4.1 million during the quarter ended April 30, 2007. The project was 95% complete as of April 30, 2007 and the cumulative $3.9 million loss was recognized as of April 30, 2007 and incorporates our estimates of project costs through completion.” Mr. Bosselmann continued, “Demand at Gemma is very strong and our backlog at April 30 was over $200 million, bolstered by a $74 million contract which we received in April for a biodiesel plant in Texas. We are very well positioned to drive significant revenue growth this year and improving profitability as we benefit from the long term increase in new power plants driven by the economic viability of renewable energy, government mandates and environmental benefits.” Mr. Bosselmann indicated that “SMC experienced a slow start for the year in its inside plant division. We have made some changes to broaden our product offerings and to diversify our customer base. VLI, in addition to its sales decline, experienced operating margin pressure. We are addressing both issues aggressively and are confident that we can achieve positive results.” | ||||||||||||||
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