|
SIOUX FALLS, SD – EMS provider Raven Industries Inc. today announced second-quarter sales of $69.3 million, 24% year-over-year. The largest contributor to the increase was the flow controls division, the firm said.
Net income rose 17% to $6.8 million compared to the second quarter last year.
Year-to-date, sales were $144.4 million, up 27% compared to the first half of 2007. Net income reached $17.7 million, up 23% compared to the same six months last year.
Electronic Systems Division second-quarter sales were $14.7 million, down 12% from the year ago period. Operating income was $1.2 million, down 51%. Year-to-date, sales for the division were down 10% year-over-year to $28 million, while operating income was $1.9 million, down 62%.
The firm expects weaker third-quarter electronic systems sales compared to last year’s strong performance.
Flow Controls Division second-quarter sales grew 93% from a year ago, reaching $22.7 million. Operating income for the three months jumped 172%, to $7.1 million. In the most recent six months, revenues expanded 82%, reaching $57.6 million. Operating income reached $20.6 million, up 112% compared to last year's first half.
|
News 
