SIOUX FALLS, S.D., Sept. 22 /PRNewswire-FirstCall/ -- Raven Industries,
Inc. (Nasdaq: RAVN) today reported that it has received more than $6 million
in orders for its Engineered Films Division's (EFD) reinforced plastic
sheeting. These new orders are expected to ship over the next three months.
Last fiscal year, the company shipped approximately $4 million of disaster
film in the quarter ended October 31, 2004 and $5 million in the following
quarter ended January 31, 2005, noted Ronald M. Moquist, president and CEO, in
announcing the new orders. EFD sales were up 50% for the six months ended
July 31, 2005, reaching $33.5 million. "We invested over $7 million in
capital improvements this year and last in EFD," Moquist explained, "allowing
us to grow this business substantially, and to take on this additional demand
at a critical time."
About Raven Industries, Inc.
Raven is an industrial manufacturer that provides electronics
manufacturing services, reinforced plastic sheeting and flow control devices
to various markets.
Forward-Looking Statements
The Private Securities Litigation Reform Act provides a "safe harbor" for
forward-looking statements. Certain information included in this press
release and other materials filed or to be filed by the company with the
Securities and Exchange Commission (as well as information included in
statements made or to be made by the company) contains statements that are
forward-looking. Although the company believes that the expectations
reflected in such forward-looking statements are based on reasonable
assumptions, there is no assurance that such expectations will be achieved.
Such assumptions involve important risks and uncertainties that could
significantly affect results in the future. These risks and uncertainties
include, but are not limited to, those relating to weather conditions, which
could affect certain of the company's primary markets, such as agriculture and
construction, or changes in competition, raw material availability, technology
or relationships with the company's largest customers, any of which could
adversely impact any of the company's product lines. The foregoing list is
not exhaustive and the company disclaims any obligation to subsequently revise
any forward-looking statements to reflect events or circumstances after the
date of such statements.
On the Internet, information is available at http://www.ravenind.com , the
company's website.
SIC CODES: 3672, 3081, 3829
SOURCE Raven Industries, Inc.
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Related links:
http://www.ravenind.com
CONTACT:
Tom Iacarella, VP & CFO of Raven Industries,
Inc., +1-605-336-2750; or Dennis Waite, General Inquiries,
+1-708-246-6265, Leslie Loyet, Analyst Inquiries,
+1-312-640-6672, or Tim Grace, Media Inquiries, +1-312-640-6741,
all of Financial Relations Board
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