Raven Industries profit up 35 percent in second quarter from higher demand

Raven Industries profit up 35 percent in 2Q

SIOUX FALLS, S.D. — Technology manufacturer Raven Industries Inc. says its second-quarter net income rose 35 percent on strong demand for its products.

The Sioux Falls-based manufacturer makes products used in the energy, agriculture, and military surveillance industries.

The company reported income of $8.4 million, or 46 cents per share, up from $6.2 million, or 34 cents per share, during the same period last year.

Net sales rose 29 percent to $73.2 million during the quarter that ended July 31. That compared to $56.6 million during the same period last year.