Argan rises after higher profit in Q4

Argan

13/04/2023 16:50

** Shares of engineering services firm Argan Inc  AGX.N  up
about 4.5% at $40.77
    ** Q4 net income was $13.6 mln, or $1 per share, vs $2.2
mln, or 14 cents per share, for last year's comparable quarter
    ** Q4 consolidated rev at $118.8 mln, down 5.4% from the
comparable prior year period
    ** Selling, general and administrative expenses was $10.5
mln in Q4, down $5.0 mln from comparable prior year qtr
    ** Recorded an income tax benefit of $3.2 mln in Q4
    ** Declares regular qtrly dividend of 25 cents per share
    ** Moving through fiscal 2024 ongoing projects to favorably
impact rev performance through the year - company
    ** AGX up about 7.9% YTD

 (Reporting by Vaibhav  Sadhamta)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))