Raven Industries Q4 Profit Declines, Revenue Up - Quick Facts

(RTTNews) - Raven Industries Inc. (RAVN) Wednesday said fourth-quarter net income attributable to the company declined to $8.28 million or $0.23 per share from $11.1 million or $0.30 per share in the previous year.

Two analysts polled by Thomson Reuters expected earnings of $0.32 per share. Analysts' estimates typically exclude special items.

The decrease was mainly due to higher raw material costs in Engineered Films, increased R&D investments for Aerostar and lower sales volume in Applied Technology.

Sales rose 3 percent to $92.6 million from $89.6 million in the prior-year quarter. Sales climbed 16 percent in the Engineered Films and rose 3 percent in Aerostar divisions. This was partially offset by a 5 percent sales decline in the company's Applied Technology division.

The company expects profits to be flat to slightly down in the first quarter of the new fiscal, followed by profit growth as the year progresses.

For fiscal year 2015, the management expects that profit improvement over fiscal 2014 will be derived from renewed growth in Applied Technology, realization of Aerostar's growth drivers and stronger operational performance in Engineered Films.