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Rockville-based Argan’s profit rises in first quarter

Argan Inc., of Rockville, which primarily designs and builds energy plants, reported net income for its fiscal first quarter ended April 30 rose 60.5 percent, to $6.9 million, or 45 cents per diluted share, from $4.3 million, or 34 cents per diluted share, for the year-ago period.

Revenue fell 26.8 percent, to $46.6 million versus $63.7 million for the 2012 period.

Officials offered no explanation for the revenue decline, but noted that the company is completing a major power plant project in California.

Another project, to build two power plants in Pennsylvania, is pending, but financing is still being worked out.