Argan inc (AGX)
CashFlow / TTM
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

-40,712

-35,785

1,150

17,114

51,869

61,210

46,065

56,439

72,346

86,077

88,074

84,055

77,426

65,805

60,938

53,473

50,204

50,919

53,319

49,506

43,455

43,612

39,302

41,204

43,344

39,173

32,437

24,495

21,817

20,238

16,537

12,626

8,970

0

0

0

Removal of loss (income) on discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,159

866

1,416

1,562

0

0

0

Income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

19,079

15,671

11,210

7,408

0

0

0

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

4,895

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation

3,513

3,567

3,566

3,480

3,422

3,308

3,136

2,978

2,779

2,535

2,335

2,181

2,043

1,779

1,439

1,094

779

572

526

528

551

565

567

562

549

544

538

534

522

496

473

455

455

0

0

0

Stock compensation expense

2,131

1,913

1,639

1,445

1,645

2,322

3,242

4,139

4,651

4,143

3,389

2,797

2,344

2,440

2,587

2,513

2,374

2,236

2,106

2,194

2,017

1,873

1,745

1,443

1,536

1,562

1,507

1,516

1,316

1,068

856

662

637

0

0

0

Amortization of purchased intangible assets

1,100

1,117

1,098

1,058

1,012

1,015

1,020

1,102

1,032

1,187

1,160

1,025

1,163

1,000

888

792

531

344

286

243

243

243

243

242

243

243

243

243

243

254

280

308

334

0

0

0

Change in accrued interest on short-term investments

-

-

-

-

-

-

-

-

1,112

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains on the deconsolidation of variable interest entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Deferred income tax benefit

-6,640

-6,507

-9,785

-2,042

-2,139

-692

1,013

-165

-64

3,405

1,095

-397

1,237

0

0

0

-

-

-

-309

896

-117

362

2,395

1,701

817

906

102

-259

374

-169

-44

-51

0

0

0

Other

-175

590

-34

713

996

377

722

462

136

-1,694

-1,623

-1,257

-1,215

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities
Accounts receivable

1,038

-8,760

89

12,727

10,200

20,644

28,632

10,181

5,687

23,216

27,668

-2,502

-817

-17,182

-25,064

11,737

12,194

12,497

-1,113

5,816

3,879

2,532

19,352

9,528

-1,294

-5,254

-7,066

774

8,826

8,598

10,720

12,826

2,976

0

0

0

Contract assets

-24,978

-5,263

16,950

-2,043

44,510

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

-2,357

853

12,775

8,228

15,160

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,243

0

0

0

Costs and estimated earnings in excess of billings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

38

-79

-866

-722

-795

-4,352

-1,471

-1,603

-4,661

4,230

2,045

1,338

0

0

0

Prepaid expenses and other assets

-

-

-

-

-

-

-

-

-

-

0

1,033

-

2,658

2,611

735

2,751

716

-466

1,077

-501

-1,400

-1,694

1,292

-598

785

680

-559

-2,943

-2,972

-246

742

4,020

0

0

0

Accounts payable and accrued expenses

-3,284

-28,694

-57,899

-69,939

-60,187

-55,780

-46,308

-19,639

-6,164

15,023

56,978

66,466

59,522

42,605

16,065

-1,681

-12,196

-11,204

1,006

19,830

22,645

30,758

22,225

-8,104

-10,513

-21,910

-25,582

5,151

6,086

21,925

35,536

25,037

20,270

0

0

0

Contract liabilities

64,336

48,643

-22,627

-23,563

-39,264

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Billings in excess of costs and estimated earnings, net

-

-

-

-

-

-

-

-

-

-

-

-

-

67,807

-633

-35,609

-62,958

-70,730

-65,980

-14,472

26,900

80,944

141,509

116,032

61,377

-7,343

-40,204

-24,511

5,389

28,737

54,191

83,464

58,088

0

0

0

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

30,834

70,968

92,134

105,479

80,050

0

0

0

Net cash used in discontinued operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,398

-1,097

-1,178

-1,335

0

0

0

Net cash provided by (used in) operating activities

53,565

2,686

-106,954

-87,769

-112,322

-149,161

-165,901

-174,692

-72,793

50,994

180,913

256,282

259,044

198,667

108,761

12,984

-33,032

-39,418

-6,313

50,503

93,329

0

0

0

-

-

-

0

-

69,570

91,037

104,301

78,715

0

0

0

CASH FLOWS FROM INVESTING ACTIVITIES
Maturities of short-term investments

166,000

224,000

267,500

311,000

370,000

412,500

484,000

545,500

587,500

625,000

550,000

463,000

354,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of short-term investments

195,000

108,000

135,000

221,000

191,000

238,000

276,000

362,500

542,500

682,500

732,500

730,000

595,000

459,000

339,000

246,000

252,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property, plant and equipment

7,058

7,541

6,277

6,893

8,599

8,186

7,389

6,654

4,826

4,336

4,001

4,429

2,811

2,928

2,227

2,156

3,118

3,765

5,240

4,097

2,936

2,053

484

498

1,136

2,260

4,323

6,783

7,263

7,531

5,470

2,893

1,738

0

0

0

Changes in notes receivable

-

-

-

-

-225

0

0

0

-

-

-

-

-

-

-

-

-3,960

0

0

0

-

-

-

0

-

-

0

0

-

-

-

-

-

-

-

-

Proceeds from the exercise of stock options and conversion of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,676

0

0

0

-

-

-

-

Net cash provided by the sale of the assets of VLI

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,528

0

0

0

Net cash (used in) provided by investing activities

-36,058

108,459

126,223

83,107

170,626

165,239

199,536

175,071

38,674

-62,036

-186,701

-271,429

-243,811

-182,208

-113,833

-87,191

-130,539

-112,906

-127,349

-60,777

-3,550

3,798

5,661

5,647

5,329

-2,260

-4,323

-6,783

-7,263

-7,505

-5,386

-1,734

790

0

0

0

CASH FLOWS FROM FINANCING ACTIVITIES
Payments of cash dividends

15,621

15,608

15,589

15,573

15,570

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the exercise of stock options

1,630

0

0

0

-

-

-

-

3,155

7,694

14,137

16,273

15,901

11,050

4,949

1,793

1,732

3,175

4,107

4,695

5,389

0

0

0

-

-

-

-

-

-

-

-

-

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

543

1,206

1,512

1,480

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Deconsolidation of the cash of variable interest entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Net cash used in financing activities

-13,991

-13,987

-14,006

-13,976

-15,540

-11,326

-22,616

-18,381

-13,622

-11,083

-4,352

-8,487

-8,859

-22,176

-13,285

-8,871

-8,646

-31,448

-29,853

-28,959

-28,297

-5,835

-1,794

-3,769

-6,669

-3,145

-7,526

-6,598

-4,953

-4,057

-5,707

-6,164

-6,273

0

0

0

EFFECTS OF EXCHANGE RATE CHANGES ON CASH

-471

-467

-319

-497

-553

1,331

1,522

2,178

2,650

1,058

510

-449

-85

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

3,045

96,691

4,944

-19,135

42,211

6,083

12,541

-15,824

-45,091

-21,067

-9,630

-24,083

6,289

-6,063

-19,281

-83,098

-172,782

-184,183

-163,022

-39,233

61,482

154,671

192,241

144,374

97,067

10,294

-33,917

-5,922

18,618

58,008

79,944

96,403

73,232

0

0

0

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

3,100

4,337

4,549

3,387

3,900

0

0

0

-

-

-

-

36,861

31,308

28,914

25,091

25,678

28,374

24,212

18,509

18,662

17,451

20,491

24,477

24,723

21,752

15,336

11,808

9,977

0

0

0

-

-

-

-

Cash received from income tax refunds

8,400

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease payments made

1,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-