SIOUX FALLS, SD – Raven Industries Inc. reported record sales and earnings for its third quarter. Continued strong demand in the flow controls division drove an 8% increase in sales, to $61.8 million, the company said.

Third-quarter net income was $7.4 million, up 6% year-over-year.

Year-to-date, sales rose $175.6 million, up 6% compared to the same period last year.

Year-to-date net income was $21.8 million, an 11% increase year-over-year.

"The flow controls division capitalized on a strong agricultural market, with good acceptance of new products and solid demand across the entire product line. The electronic systems division and Aerostar also reported double-digit increases in revenues and operating income. These advances more than offset declines in the engineered films division, which were caused primarily by increased price competition in its markets and the lack of disaster film sales," said CEO Ronald M. Moquist.

DANBORO, PA – In an effort to protect its intellectual property rights, PennEngineering has served complaints on six fastener manufacturers attending the National Industrial Fastener Show/West in Las Vegas. 

The complaints were filed Nov. 13 in Federal District Court in Nevada.

PennEngineering has alleged these companies were exhibiting and offering for sale products that violate one or more of the company’s trademarks and patents. 

PennEngineering has asked a federal district court in Nevada to require these companies immediately cease and desist from infringing activities and award PennEngineering appropriate damages. 

SCOTTSDALE, AZ – Smartphone OS-based phones will grow at more than a 30% CAGR for the next five years globally, taking an increasing share of the overall phone market otherwise growing in single digits, reports In-Stat.

The unit volume of smartphones globally exceeds the unit sales for laptops, according to the research firm.

Users are experiencing significant value from their smartphones, In-Stat says. As a result, they are downloading more applications and generating higher usage as measured by average revenue per user for wireless carriers. 

“Because of the value users are finding, organizations are slowly taking ownership of smartphones and data applications used for business purposes,” says Bill Hughes, In-Stat analyst. “Rather than having overcomplicated reimbursement plans, more organizations are finding it more expedient and economical to treat wireless voice and data services as a business expense when they use smartphones.”

Research by In-Stat found the following: All smartphone OSs (other than the Palm OS) will grow at double digits during the next five years; a smartphone user who travels has twice the ARPU of a typical feature phone user; smartphone use will grow mostly from use as a laptop replacement, and as a tool to help manufacturers develop feature phones.

SAN JOSE, CA – Worldwide sales will surpass $321 billion in 2010 with a CAGR of 7.7% for the period between 2007 and 2010, the Semiconductor Industry Association today reported in its annual forecast of global semiconductor sales.