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 4Q Income Jumps 49 Percent

SIOUX FALLS, S.D. (AP) â¿¿ Raven Industries' fourth-quarter net income jumped 49 percent from the year before as the industrial products maker saw strong demand and increased profit margins in its large plastic sheeting division.

Shares rose nearly 5 percent Tuesday in morning trading.

Raven Industries makes an array of specialty products for the agricultural, aviation and construction industries. Its products include thick plastic films used on construction sites, parachutes and global positioning devices for farmers.

The company said sales were up in all of its units, but higher revenue and profits in the quarter were driven by its engineered film division.

The engineered film unit accounts for about one-third of Raven Industries' total revenue. The division's plastic sheeting is sold through third-parts distributors and Raven Industries' own sales force.

CEO Daniel Rykhus said the films division was buoyed by new products like the Dura-Skrim Textured Series of sheeting, which is used in landfills and mines. The company boosted profits in part by making its factories more efficient, he said.

Revenue in the engineered films division was $36 million, up 48 percent from the year before. That was faster growth than another other unit. Operating income at the unit more than doubled, rising to $6.5 million from $3 million the year before, far outpacing income growth in other divisions.

The company said that during the quarter ended Jan. 31, it earned net income of $11 million, or 60 cents per share, compared to $7.4 million, or 41 cents per share, during the same period a year before.

Revenue during the quarter was $96.3 million, up 36 percent from $70.7 million in the prior year period.

Rykhus said the company will grow this year as it reaps the benefits of investments it made during 2011. The company expanded its manufacturing base and invested in new product research, he said.

1 of 2

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
AAPL $94.19 0.00%
FB $118.06 0.00%
GOOG $695.70 0.00%
TSLA $222.56 0.00%
YHOO $36.00 0.00%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs