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SIOUX FALLS, SD – Raven Industries reported fourth-quarter sales and earnings rose 14% and 3%, respectively, for the period ended Jan. 31.
The company, which makes end products and offers EMS services, reported net profits of $6 million on sales of $58.4 million.
For the year, sales reached a record $234 million, up 8% from a year ago, on strength from its Flow Controls division. Net income grew 9 % to $27.8 million.
It was the company’s fifth consecutive annual record for revenues and earnings.
Electronic Systems division sales in the fourth quarter were $16.2 million, down 4% from last year. Operating income fell 34% to $1.9 million. For the year, the division’s sales were up 2% to $67.6 million, and operating income dropped 5% to $10.3 million.
More weakness is expected this year in Electronic Systems, said chief executive Ronald M. Moquist. |
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