Raven Flies to New Fiscal Highs
SIOUX FALLS, SD - Raven Industries Inc. today announced record sales and earnings for its fourth quarter and full year ended January 31. Net income for the quarter climbed 41% to $3.6 million. Total sales for the industrial manufacturer's rose 31% to $44 million.
For the past 12 months, Raven reported net earnings increased 29% to $17.9 million, and sales were up 18% to $168 million.
The company projects double-digit earnings growth in fiscal 2006.
The company's electronic systems division fourth-quarter sales were relatively flat at $12.2 million. Operating income declined 6% to $1.4 million. For fiscal 2005 division sales climbed 6% to $47 million, while operating profits fell 23%, to $4.5 million. "The ESD business model of providing low-volume, high-mix contract manufacturing services, coupled with strong customer service and engineering support, is still the most viable in this marketplace," the company said.
