This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Raven Industries Reports Fourth Quarter And Fiscal 2010 Results

"Farm income fell after two very strong years.  We believe it will be flat to slightly up in the coming year, as input costs drop and commodity prices stabilize," Moquist commented. "However, the current rate of orders bodes well for the coming year. We expect growth in Applied Technology to come from new products—including our Slingshot™ ag information platform, new customers, international expansion, partnerships and acquisitions. And, while acquisitions are not a critical part of our growth plan, small strategic investments—such as the Ranchview and SST deals we did last year—help to strengthen our market position in systems integration and data management."

Stronger Profit Margins at Engineered Films

The Engineered Films Division posted annual sales of $63.8 million, which were off 29 percent from $89.9 million in the prior year. Operating income, however, was down by only 6 percent, at $10.2 million from $10.9 million in fiscal 2009.  

In the fourth quarter, revenues were $16.7 million versus $14.5 million, a 15 percent improvement.  Operating earnings, at $2.4 million, improved from an operating loss of $178,000 seen in last year's final three months.

Raven's primary markets—energy and construction—suffered during the year. Pit liners sold into the energy market declined 40 percent, and sales to the construction market were down 25 percent. Fourth quarter sales to the energy market rebounded, as distributors sought to replenish inventory levels. "We delivered operating margin improvement," Moquist noted. "Our films business benefited from lower raw material costs, better pricing, greater efficiency and tough cost controls."

Electronic Systems Rebounds for Year, Sees Weaker Fourth Quarter

For fiscal 2010, Electronic Systems Division sales increased by 2 percent to $63.5 million from $62.0 million in the prior year. Operating income rose by 52 percent, to $9.0 million compared with $5.9 million a year ago.

Sales in the fourth quarter were $13.8 million versus $16.1 million for last year's three months, a 14 percent reduction. Operating income fell 13 percent to $2.0 million from $2.2 million in the year-ago quarter.

Improved efficiency and a lower cost structure helped Electronic Systems to recover its profit margins during the past fiscal year. The leaner organization allowed all of the division's primary markets to show profit improvement in a volatile environment. "Avionics deliveries started the year strong and then slowed as commercial airlines began cancelling or delaying delivery schedules. This trend will probably continue in the year ahead.  Demand levels for secure communication devices for government agencies followed a similar pattern and electronic bed controls were slightly down," explained Moquist.

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
RAVN $15.68 -3.63%
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%
TSLA $232.32 -3.92%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs