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Raven Industries Reports 'Unusually High Demand' for Its Plastic Sheeting for Hurricane-Ravaged Areas in Southeastern United States Company Notes It Has Recently Received Some $8 Million in Orders for Hurricane-Film to Cover Houses and Commercial Buildings
17:01 Monday, October 18, 2004
SIOUX FALLS, S.D., Oct 18, 2004 /PRNewswire-FirstCall via COMTEX/ -- Management of Raven Industries, Inc. (Nasdaq: RAVN) today announced"unusually high demand"for its Engineered Films Division (EFD) reinforced plastic sheeting for hurricane- ravaged areas in Florida and other southeastern states.

Ronald M. Moquist, president and CEO, noted in announcing the news that management had expected that Raven's second half would be strong, with expected double-digit gains in revenue."The extraordinary sharp demand for plastic sheeting in the past few weeks is far beyond the levels we have seen from previous hurricanes and has already resulted in approximately $8 million of incremental demand which should virtually all be shipped by the end of the year. Our employees are working considerable overtime to help meet the needs of our key customers as well as hurricane victims."As a result of the heavy influx of hurricane-film orders and generally strong performance in its other divisions, Moquist said Raven will greatly surpass the $36.1 million net sales of the year-ago quarter ended October 31, 2003, and diluted earnings per share of 21 cents, as adjusted for the two for one stock split on October 15, 2004.

About Raven Industries, Inc.

Raven is an industrial manufacturer that provides electronics manufacturing services, reinforced plastic sheeting and flow control devices to various markets.

Forward-Looking Statements

The Private Securities Litigation Reform Act provides a"safe harbor"for forward-looking statements. Certain information included in this Press Release and other materials filed or to be filed by the company with the Securities and Exchange Commission (as well as information included in statements made or to be made by the company) contains statements that are forward-looking. Although the company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, there is no assurance that such expectations will be achieved. Such assumptions involve important risks and uncertainties that could significantly affect results in the future. These risks and uncertainties include, but are not limited to, those relating to weather conditions, which could affect certain of the company's primary markets, such as agriculture and construction, or changes in competition, material availability, technology or relationships with the company's largest customers, any of which could adversely impact any of the company's product lines. The foregoing list is not exhaustive and the company disclaims any obligation to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements.

On the Internet, information is available at , the company's website.

SOURCE Raven Industries, Inc.
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