caLogo
SIOUX FALLS, SD -- Raven Industries today reported record sales and earnings for its fiscal year ended Jan. 31, 2006. Net sales rose 22% to $204.5 million and net income climbed 36% to $24.3 million.

For the fourth quarter, net sales were up 24% to $54.4 million while net income jumped 50% to $5.5 million. Raven makes various end products and films, and performs electronics manufacturing services.

For the year, sales at the company's Electronic Systems Division rose 19% to $56.2 million while operating income nearly doubled, up 98% to $8.9 million. For the fourth quarter, sales rose 14% to $13.9 million while operating income jumped 44% to $2 million. Growth was driven by demand from Fortune 500 companies, the firm said.

As of Jan. 31, company's cash and investments were $11.4 million, up $1.8 million from last year. Operating cash flows for the year was $21.2 million, up $2.3 million for the period.

President and CEO Ronald M. Moquist said the company expects fiscal 2007 to beat the performance of the year just ended both in sales and earnings.


Submit to FacebookSubmit to Google PlusSubmit to TwitterSubmit to LinkedInPrint Article
Don't have an account yet? Register Now!

Sign in to your account