Argan inc (AGX)
CashFlow / Quarterly
Jan'20Oct'19Jul'19Apr'19Jan'19Oct'18Jul'18Apr'18Jan'18Oct'17Jul'17Apr'17Jan'17Oct'16Jul'16Apr'16Jan'16Oct'15Jul'15Apr'15Jan'15Oct'14Jul'14Apr'14Jan'14Oct'13Jul'13Apr'13Jan'13Oct'12Jul'12Apr'12Jan'12Oct'11Jul'11Apr'11
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income

-7,218

-4,561

980

-29,913

-2,291

32,374

16,944

4,842

7,050

17,229

27,318

20,749

20,781

19,226

23,299

14,120

9,160

14,359

15,834

10,851

9,875

16,759

12,021

4,800

10,032

12,449

13,923

6,940

5,861

5,713

5,981

4,262

4,282

2,012

2,070

606

Removal of loss (income) on discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-285

1,444

-293

550

-139

Income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,713

5,981

4,547

2,838

2,305

1,520

745

Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities
Impairment losses (Note 7)

2,823

0

0

2,072

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation

903

899

882

829

957

898

796

771

843

726

638

572

599

526

484

434

335

186

139

119

128

140

141

142

142

142

136

129

137

136

132

117

111

113

114

117

Stock compensation expense

619

612

500

400

401

338

306

600

1,078

1,258

1,203

1,112

570

504

611

659

666

651

537

520

528

521

625

343

384

393

323

436

410

338

332

236

162

126

138

211

Amortization of purchased intangible assets

236

272

293

299

253

253

253

253

256

258

335

183

411

231

200

321

248

119

104

60

61

61

61

60

61

61

60

61

61

61

60

61

72

87

88

87

Change in accrued interest on short-term investments

-

-

-

-

-

-

-

-

435

48

333

296

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains on the deconsolidation of variable interest entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,324

1,120

-

-

-

-

-

-

-

-

Deferred income tax benefit

-2,119

2,201

-6,981

259

-1,986

-1,077

762

162

-539

628

-416

263

2,930

-1,682

-1,908

1,897

-

-

-

-129

1,232

-211

-1,201

1,076

219

268

832

382

-665

357

28

21

-32

-186

153

14

Other

350

125

-779

129

1,115

-499

-32

412

496

-154

-292

86

-1,334

-83

74

128

-

-

282

-203

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities
Accounts receivable

2,312

-11,109

-2,214

12,049

-7,486

-2,260

10,424

9,522

2,958

5,728

-8,027

5,028

20,487

10,180

-38,197

6,713

4,122

2,298

-1,396

7,170

4,425

-11,312

5,533

5,233

3,078

5,508

-4,291

-5,589

-882

3,696

3,549

2,463

-1,110

5,818

5,655

-7,387

Contract assets

-16,986

-1,377

3,206

-9,821

2,729

20,836

-15,787

36,732

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

-3,945

4,310

1,240

-3,962

-735

16,232

-3,307

2,970

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-1,243

Costs and estimated earnings in excess of billings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-116

230

-327

251

-233

-557

-183

178

-3,790

2,324

-315

-2,880

5,101

139

-1,022

Prepaid expenses and other assets

-

-

-

-

-

-

-

-

-

-

-4,373

1,773

-

439

-415

1,408

1,226

392

-2,291

3,424

-809

-790

-748

1,846

-1,708

-1,084

2,238

-44

-325

-1,189

999

-2,428

-354

1,537

1,987

850

Accounts payable and accrued expenses

9,239

3,848

-5,874

-10,497

-16,171

-25,357

-17,914

-745

-11,764

-15,885

8,755

12,730

9,423

26,070

18,243

5,786

-7,494

-470

497

-4,729

-6,502

11,740

19,321

-1,914

1,611

3,207

-11,008

-4,323

-9,786

-465

19,725

-3,388

6,053

13,146

9,226

-8,155

Contract liabilities

14,264

56,663

-5,142

-1,449

-1,429

-14,607

-6,078

-17,150

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in contracts-in-progress, net (Note 4)

-

-

-

-

-

-

-

-

-

50,242

56,925

-12,538

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Billings in excess of costs and estimated earnings, net

-

-

-

-

-

-

-

-

-

-

-

-

-

38,265

-12,465

28,758

13,249

-30,175

-47,441

1,409

5,477

-25,425

4,067

42,781

59,521

35,140

-21,410

-11,874

-9,199

2,279

-5,717

18,026

14,149

27,733

23,556

-7,350

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-12,437

9,702

13,669

19,900

27,697

30,868

27,014

-5,529

Net cash used in discontinued operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-78

-1,320

301

-81

-235

Net cash provided by (used in) operating activities

37,664

69,065

-16,782

-36,382

-13,215

-40,575

2,403

-60,935

-50,054

-57,315

-6,388

40,964

73,733

72,604

68,981

43,726

13,356

-17,302

-26,796

-2,290

6,970

15,803

30,020

40,536

-

-

-

-3,553

-

9,702

13,669

19,822

26,377

31,169

26,933

-5,764

CASH FLOWS FROM INVESTING ACTIVITIES
Maturities of short-term investments

2,000

60,000

60,000

44,000

60,000

103,500

103,500

103,000

102,500

175,000

165,000

145,000

140,000

100,000

78,000

36,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of short-term investments

120,000

40,000

0

35,000

33,000

67,000

86,000

5,000

80,000

105,000

172,500

185,000

220,000

155,000

170,000

50,000

84,000

35,000

77,000

56,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property, plant and equipment

750

3,265

1,058

1,985

1,233

2,001

1,674

3,691

820

1,204

939

1,863

330

869

1,367

245

447

168

1,296

1,207

1,094

1,643

153

46

211

74

167

684

1,335

2,137

2,627

1,164

1,603

76

50

9

Changes in notes receivable

-

-

-

-

0

0

0

-225

-

-

-

-

-

-

-

-

-4,891

326

219

386

-

-

-

320

-

-

316

1,397

-

-

-

-

-

-

-

-

Proceeds from the exercise of stock options and conversion of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

409

1,657

483

127

-

-

-

-

Net cash provided by the sale of the assets of VLI

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

26

58

1,075

1,369

Net cash (used in) provided by investing activities

-118,750

16,735

58,942

7,015

25,767

34,499

15,826

94,534

20,380

68,796

-8,639

-41,863

-80,330

-55,869

-93,367

-14,245

-18,727

12,506

-66,725

-57,593

-1,094

-1,937

-153

-366

6,254

-74

-167

-684

-1,335

-2,137

-2,627

-1,164

-1,577

-18

1,025

1,360

CASH FLOWS FROM FINANCING ACTIVITIES
Payments of cash dividends

3,907

3,911

3,908

3,895

3,894

3,892

3,892

3,892

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the exercise of stock options

63

0

0

1,567

-

-

-

-

374

328

1,586

867

4,913

6,771

3,722

495

62

670

566

434

1,505

1,602

1,154

1,128

-

-

-

-

-

-

-

-

-

7

26

18

Excess income tax benefit on exercised stock options (Note 2)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-268

70

286

455

395

376

254

-

-

-

-

-

-

-

-

-

-

-

-

Deconsolidation of the cash of variable interest entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

278

121

-

-

-

-

-

-

-

-

Net cash used in financing activities

-3,844

-3,911

-3,908

-2,328

-3,840

-3,930

-3,878

-3,892

374

-15,220

357

867

2,913

-8,489

-3,778

495

-10,404

402

636

720

-33,206

1,997

1,530

1,382

-10,744

6,038

-445

-1,518

-7,220

1,657

483

127

-6,324

7

26

18

EFFECTS OF EXCHANGE RATE CHANGES ON CASH

-189

-117

70

-235

-185

31

-108

-291

1,699

222

548

181

107

-326

-411

545

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

-85,119

81,772

38,322

-31,930

8,527

-9,975

14,243

29,416

-27,601

-3,517

-14,122

149

-3,577

7,920

-28,575

30,521

-15,929

-5,298

-92,392

-59,163

-27,330

15,863

31,397

41,552

65,859

53,433

-16,470

-5,755

-20,914

9,222

11,525

18,785

18,476

31,158

27,984

-4,386

SUPPLEMENTAL CASH FLOW INFORMATION (Notes 2, 10 and 13)
Cash paid for income taxes

38

80

2,528

454

1,275

292

1,366

967

-

-

-

-

10,497

12,425

13,092

847

4,944

10,031

9,269

1,434

7,640

5,869

3,566

1,587

6,429

8,909

7,552

1,833

3,458

2,493

4,024

2

-

-

-

-

Cash received from income tax refunds

483

0

1,774

6,143

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease payments made

534

179

146

141

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Adoption of ASC Topic 842 (non-cash transaction, see Note 7)

-

0

0

1,341

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-