Raven Industries Inc. (RAVN) reported that its third-quarter net income was $10.9 million or $0.30 per share, down from $11.4 million, or $0.31 per share in the year ago quarter. All earnings-per-share amounts have been adjusted to reflect a two-for-one stock split effective July 25, 2012.
For the third quarter, sales increased 4 percent to $97.0 million, from $93.3 million in the prior-year third quarter. Revenue growth resulted from strength in the Applied Technology Division along with the addition of Vista Research revenues in the Aerostar Division. Engineered Films sales declined slightly from record levels in the year-ago third quarter.
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