EARNINGS PER SHARE ATTRIBUTABLE TO THE STOCKHOLDERS OF ARGAN, INC.

9 Months Ended

Oct. 31, 2016

EARNINGS PER SHARE ATTRIBUTABLE TO THE STOCKHOLDERS OF ARGAN, INC.

EARNINGS PER SHARE ATTRIBUTABLE TO THE STOCKHOLDERS OF ARGAN, INC.

NOTE 13 — EARNINGS PER SHARE ATTRIBUTABLE TO THE STOCKHOLDERS OF ARGAN, INC.

Reconciliations of weighted average basic shares outstanding to weighted average diluted shares outstanding and the computations of basic and diluted earnings per share for the three and nine months ended October 31, 2016 and 2015 are as follows (shares in thousands):

	Three Months Ended October 31,
	2016		2015
Net income attributable to the stockholders of Argan, Inc.	$	18,073	$	10,807
Weighted average number of shares outstanding - basic	15,137		14,810
Effect of stock options (1)	464		256
Weighted average number of shares outstanding - diluted	15,601		15,066
Net income per share attributable to the stockholders of Argan, Inc.:
Basic	$	1.19	$	0.73
Diluted	$	1.16	$	0.72

	Nine Months Ended October 31,
	2016		2015
Net income attributable to the stockholders of Argan, Inc.	$	49,977	$	29,617
Weighted average number of shares outstanding - basic	14,974		14,732
Effect of stock options (1)	516		272
Weighted average number of shares outstanding - diluted	15,490		15,004
Net income per share attributable to the stockholders of Argan, Inc.:
Basic	$	3.34	$	2.01
Diluted	$	3.23	$	1.97

(1) The numbers of antidilutive shares excluded from the diluted earnings per share computations were not material for the three and nine month periods ended October 31, 2016 and 2015.