Raven Industries, Inc beats EPS sole analyst estimates by penny
Industrial manufacturer Raven Industries, Inc. (Nasdaq: RAVN) reported second-quarter results just above the sole analyst estimates.
For the three months ended July 31, the Sioux Falls, S.D.-based company recorded net income of $5.8 million, or $0.32 per share, one penny above the sole analyst polled by Thomson Financial of $0.31 per share. This compares with net income of $5.1 million, or $0.28 per share, for the same period last year.
Revenue increased 10% to $55.7 million helped by contributions from Raven's Flow Controls Division, compared with revenue of $50.4 million for the second quarter last year. The Street had anticipated sales of $52.55 million.
Shares of Raven gained 5.24%, or $1.89, to $37.98 out of the gate.
