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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: Trader J who wrote (17585)	7/16/1999 9:41:00 AM
From: Wowzer	Read Replies (1) \| Respond to of 56535

RAVN.... Friday July 16, 8:30 am Eastern Time Company Press Release SOURCE: Raven Industries, Inc. Raven Industries Expects 'Substantially Higher' Net Earnings In Second Quarter With Ongoing Strong Sales of Plastic Films SIOUX FALLS, S.D., July 16 /PRNewswire/ -- Raven Industries, Inc. (Nasdaq: RAVN - news) announced today that due, in large part, to strong demand for its engineered films product line, earnings per share for its second quarter ending July 31, 1999, should rise in the range of 25 percent from a year ago. Operating and net earnings should be up in the double-digit range. Management previously had expected only slightly higher profits for the quarter but a stronger second half. Sales are expected to be about even with year-earlier results, the company said. President and Chief Executive Officer David A. Christensen, in explaining the rise in profitability, noted: ''We have been focusing on higher manufacturing and operating efficiencies; on the other hand, we've seen increases in demand for higher-margin product.'' Christensen added that a recent agreement with a private manufacturer of factory automation circuit boards should also boost Electronics sales by several million over the next 12 months. Raven will report second-quarter results in late August 1999. Raven Industries is a diversified manufacturer that supplies plastics, electronics and special-apparel products to various markets. This release contains discussions of items which may constitute forward-looking statements within the meaning of federal securities laws. Although Raven Industries believes that expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include general economic conditions, weather conditions which could affect certain of the company's primary markets such as the agricultural market or its market for outerwear, or changes in competition which could impact any of the company's product lines. SOURCE: Raven Industries, Inc.