Argan(US:AGX)2019-04-17 17:53Financial Performance - Argan Inc's market capitalization was $0.8 billion as of April 8, 2019[5] - The company's revenue for fiscal year 2019 decreased by 46% to $482153 thousand from $892815 thousand in fiscal year 2018[17] - Net income attributable to stockholders decreased by 277% to $52036 thousand in fiscal year 2019 from $72011 thousand in fiscal year 2018[17] - EBITDA attributable to stockholders decreased by 548% to $52478 thousand in fiscal year 2019 from $116101 thousand in fiscal year 2018[17] - Cash, cash equivalents, and short-term investments totaled $296531 thousand as of January 31, 2019, a 317% decrease from $434015 thousand in the prior year[17] Balance Sheet and Backlog - The company had a strong balance sheet with $297 million in cash and short-term investments and $334 million in net liquidity as of January 31, 2019[6, 19] - Project backlog increased significantly to $11 billion as of January 31, 2019, a 1887% increase from $379 million in the prior year[6, 19] Operational Highlights - Gemma Power Systems has generated cumulative EBITDA of over $630 million since being acquired by Argan in 2006[21] - The company booked a $166 million tax benefit in the current year based on a review of research and development credits[19] - The annual effective income tax rate was 30% for the current year before R&D, compared to 36% for the prior year due to the Tax Cuts and Jobs Act[19]