SIOUX FALLS, SD – Raven Industries reported fiscal first-quarter sales at its Applied Technology unit were $51.2 million, down 4.7% year-over-year.

Operating income for the segment, which provides contract electronics assembly services, was $19.2 million, down 13.1% compared to the prior-year period.

Overall company sales for the period ended Apr. 30 were $103.7 million, down 12.1% compared to the prior-year first quarter. Fiscal 2014 first-quarter net income was $14 million, down 26.3% year-over-year.

The firm expects a stronger second-half performance.