SIOUX FALLS, SD – Raven Industries today reported record fiscal 2013 first-quarter sales up 16% year-over-year to $117.9 million.

First-quarter net income rose 21% to $19 million compared to the first quarter last year. Growth was driven by record levels in the Engineered Films and Applied Technology divisions, the firm says.

Raven's Engineered Films division posted first-quarter sales of $41.1 million, up 37% compared to the fiscal 2012 first quarter. Operating income more than doubled to $9.2 million.

Sales in the Applied Technology division grew 29% to $50.5 million year-over-year. Operating income increased 39% to $20.9 million.

Electronic Systems' sales in the quarter were $19.1 million, down slightly from $19.5 million in the year-ago first quarter. Operating income was $3.7 million, up 8% year-over-year.

During the second quarter, the firm’s Aerostar division will add contract electronics manufacturing services to its capabilities. Approximately 75% of Electronic Systems sales will go to Aerostar and the balance to Applied Technology.

The firm anticipates continued positive trends in Engineered Films and Applied Technology.

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