Revenue during the quarter grew 12.89 percent to $113.14 million from $100.22 million in the previous year period. Gross margin for the quarter expanded 263 basis points over the previous year period to 11.04 percent. Total expenses were 93.74 percent of quarterly revenues, down from 95.61 percent for the same period last year. This has led to an improvement of 188 basis points in operating margin to 6.26 percent.

REX American Resources chief executive officer, Zafar Rizvi, commented, "We achieved both top and bottom-line growth in the first quarter, compared to the prior years first quarter, highlighting our disciplined approach to ensure operating excellence throughout the organization. Our operating strategies led to significant year over year growth across key financial metrics, including gross profit, net income, diluted earnings per share and operating cash flow generation. We are particularly pleased with the early success of efforts to increase production at our plants, as reflected in the nearly 8% increase in ethanol gallons sold during the period, compared to last year’s first quarter."

The company has spent $5.85 million cash to meet investing activities during the quarter as against cash outgo of $2.66 million in the last year period.

Cash and cash equivalents stood at $191.49 million as on Apr. 30, 2017, up 56.38 percent or $69.04 million from $122.45 million on Apr. 30, 2016.