SIOUX FALLS, SD -- Raven Industries reported record sales and earnings for the first quarter with strong contributions from all divisions, including EMS.

For the period ended April 30, the contract electronics assembler's sales increased 30% from a year ago to $85 million. Net income increased 40% to $12.9 million, while the return on sales rose 100 basis points to 15.2%.

First-quarter sales for the Electronic Systems Division were $16.3 million, up $100,000 from last year. Operating income rose 25% to $3.1 million.

"While sales were relatively flat we did benefit from a higher-margin mix during the quarter," said CEO Ron Moquist explained. "Avionics tapered off as expected as deliveries for commercial airlines were down. Helping to offset this was a new order from an existing customer, as well as increased sourcing of assemblies to our Applied Technology Division."

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