Raven Ranks #45 on 2008 List
SIOUX FALLS, S.D., Oct. 15 /PRNewswire-FirstCall/ -- Raven Industries,
Inc. (Nasdaq: RAVN) today announced it was named to the 2008 Forbes' list
of the 200 Best Small Companies in America. Forbes ranked Raven as the 45th
top U.S. small company and 27th based on return on equity. This is the
third consecutive year Raven has made the list.
"We appreciate this honor, which reflects our company's dedication to
its customers and business strategy," said President and CEO Ronald M.
Moquist. "That strategy involves funding organic growth opportunities in
our divisions that provide strong returns on investment, closely managing
expenses, and avoiding debt. This results in strong cash flows, profitable
growth, and the ability to return at least 30 percent of our earnings to
investors."
To qualify, companies must have sales between $5 million and $750
million, and a stock price of at least $5 as of September 29. The ranking
is based on return on equity, sales and profit growth over the past 12
months and also over five years. Forbes also compares a company's stock
performance with its industry peers. The shares of the companies on their
2007 list fell 15 percent on average over the past year, slightly
outperforming the Russell 2000.
About Raven Industries, Inc.
Raven is an industrial manufacturer that provides electronic
precision-agriculture products, reinforced plastic sheeting, electronics
manufacturing services, and specialty aerostats and sewn products to niche
markets.
Additional information on Raven is available at
http://www.ravenind.com.
SOURCE Raven Industries, Inc.
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Related links:
http://www.ravenind.com
CONTACT:
Tom Iacarella, Chief Financial Officer of
Raven Industries, Inc., +1-605-336-2750; or General Inquiries,
Leslie Loyet, +1-312-640-6672, or Media Inquiries, Tim Grace,
+1-312-640-6667, both of Financial Relations Board, for Raven
Industries, Inc.
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