SIOUX FALLS, S.D., Oct. 20 /PRNewswire-FirstCall/ -- Raven Industries,
Inc. (Nasdaq: RAVN) today announced that it has been named as one of
"America's 200 Best Small Companies," published in the October 27, 2003 issue
of Forbes. Raven ranked 71 in Forbes' list of "America's 200 Best Small
Companies," based on 12 month and five-year growth in average return on
equity, sales and earnings. As of January 31, 2003, the company's return on
equity was 21.5 percent.
Raven also was recently included in the Russell(R) 3000 index of U.S.
equities, which reflects the company's growth and the sizable increase in
market capitalization over the past 12 months. The company's market cap has
grown 83 percent in the past year.
"We have a commitment and an opportunity to continue to deliver
shareholder value," said Ronald M. Moquist, President and Chief Executive
Officer of Raven. "Our business model of cutting costs, improving operations
and innovating for growth has served us well. We continue to be in a solid
position to produce another record year of results. Recognition of our
success by a leading financial publication is always an honor and illustrates
the results we've been able to achieve."
"While this recognition represents past financial performance, we will
continue our commitment to produce measured growth while maintaining
disciplined financial management," commented Moquist. "The ranking of our
Board of Directors in the 93rd percentile was particularly gratifying in light
of the nation's focus on corporate governance. In addition, these
achievements would not be possible without the efforts of Raven's employees
and we thank them for their accomplishments."
FORWARD-LOOKING STATEMENTS
The Private Securities Litigation Reform Act provides a "safe harbor" for
forward-looking statements. Certain information included in 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
upon 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 general
economic conditions, weather conditions, which could affect certain of the
company's primary markets, such as agriculture and construction, or changes in
competition, technology or the company's customer base, any of which could
adversely impact any of the company's product lines.
On the Internet, information is available at FRB's website,
http://www.frbwebershandwick.com , or the company's website, http://www.ravenind.com .
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, or Leslie Loyet, Analyst Inquiries,
+1-312-640-6672, or Cindy Martin, Media Inquiries,
+1-312-640-6741, all of FRB Weber Shandwick
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