SIOUX FALLS, SD -- Raven Industries soared to new heights, setting records for sales and earnings for its third quarter ended Oct. 31.

For the third quarter, sales increased 43% from a year ago to $85.8 million. Double-digit sales gains were achieved in Applied Technology and Electronic Systems, the company's EMS business unit. Net income increased 62% to $11.8 million during the period.

Sales for the Electronic Systems Division, the firm's contract electronics manufacturing unit, were $17.8 million, up 13.4% from a year ago. Operating income rose 47% to $2.3 million. "Profit improvement this quarter was strong when compared with last year's third quarter which included supply-chain issues that reduced both sales and margins," said chief executive Daniel A. Rykhus. "The current mix of products being delivered has a margin profile that is consistent with our expectations for this business, and overall this unit is generating solid cash flows."

Rykhus said 2010 would be a record year for Raven, and that further capital improvements would be coming. "The economic environment remains volatile, but we plan on enhancing Raven's capabilities and strengthening our business foundation."