Business Segments and Major Customer Information

12 Months Ended

Jan. 31, 2012

Segment Reporting [Abstract]

Business Segments and Major Customer Information

NOTE 13 BUSINESS SEGMENTS AND MAJOR CUSTOMER INFORMATION

The company's reportable segments are defined by their common technologies, production processes and inventories. These segments reflect Raven's organization into three Raven divisions and the Aerostar subsidiary. Raven Canada, Raven GmbH, Raven Australia, and Raven Brazil are included in the Applied Technology Division. Vista and AIS are included in the Aerostar Division. Substantially all of the company's long-lived assets are located in the United States.

Applied Technology designs, manufactures, sells, and services innovative precision agriculture products and information management tools that help growers reduce costs and improve farm yields around the world.  Their product families include field computers, application controls, GPS-guidance and assisted-steering systems, automatic boom controls, yield monitoring planter controls and an integrated RTK and information platform called Slingshot. Engineered Films produces rugged reinforced plastic sheeting for industrial, energy, construction, geomembrane, and agriculture applications. Aerostar sells high-altitude research balloons and tethered aerostats for government and commercial research and military parachutes. It produces uniforms and protective wear for U.S. government agencies as a subcontractor and also manufactures other sewn and sealed products on a contract basis. Electronic System's capabilities are focused on electronics manufacturing services (EMS) for commercial customers with a focus on high-mix, low-volume production. Assemblies manufactured by the Electronic Systems segment include avionics, communication, environmental controls and other products where high quality is critical.

The company measures the performance of its segments based on their operating income excluding administrative and general expenses. The accounting policies of the operating segments are the same as those described in Note 1, Summary of Significant Accounting Policies. Other income, interest expense and income taxes are not allocated to individual operating segments, and assets not identifiable to an individual segment are included as corporate assets. Segment information is reported consistent with the company's management reporting structure.

Business segment information is as follows:
	For the years ended January 31
	2012			2011				2010
APPLIED TECHNOLOGY DIVISION
Sales	$	132,632		$	100,090			$	86,217
Operating income	45,358			31,135				25,722
Assets	69,977			52,669				51,029
Capital expenditures	11,408			1,769				941
Depreciation and amortization	2,351			2,238				1,677
ENGINEERED FILMS DIVISION
Sales	$	133,481		$	105,838			$	63,783
Operating income	21,501			19,622			(b)	10,232
Assets	65,100			46,519				35,999
Capital expenditures	10,937			8,450				1,460
Depreciation and amortization	4,313			3,452				3,707
AEROSTAR DIVISION
Sales	$	52,351		$	48,787			$	27,244
Operating income	11,468			9,407				5,634
Assets	51,822			18,140				10,462
Capital expenditures	3,875			2,190				332
Depreciation and amortization	1,079			757				398
ELECTRONIC SYSTEMS DIVISION
Sales	$	71,744		$	65,852			$	63,525
Operating income	11,264			9,917				8,979
Assets	24,281			23,385				21,216
Capital expenditures	793			609				290
Depreciation and amortization	825			823				939
INTERSEGMENT ELIMINATIONS
Sales
Engineered Films Division	$	(193	)	$	(307	)		$	(210	)
Aerostar	(1		)	(32		)		(1		)
Electronic Systems Division	(8,503		)	(5,520		)		(2,776		)
Operating income	(220		)	(94		)		60
Assets	(405		)	(186		)		(92		)
REPORTABLE SEGMENTS TOTAL
Sales	$	381,511		$	314,708			$	237,782
Operating income	89,371			69,987			(b)	50,627
Assets	210,775			140,527				118,614
Capital expenditures	27,013			13,018				3,023
Depreciation and amortization	8,568			7,270				6,721
CORPORATE & OTHER(a)
Operating (loss) from administrative expenses	$	(13,730	)	$	(9,784	)		$	(7,407	)
Assets	34,928			47,233				51,695
Capital expenditures	2,002			954				279
Depreciation and amortization	700			361				387
TOTAL COMPANY
Sales	$	381,511		$	314,708			$	237,782
Operating income	75,641			60,203			(b)	43,220
Assets	245,703			187,760				170,309
Capital expenditures	29,015			13,972				3,302
Depreciation and amortization	9,268			7,631				7,108

^(a) Assets are principally cash, investments, deferred taxes and other receivables.

^(b) Includes a $451 pre-tax gain on disposition of assets.

Sales to a customer of the Electronic Systems segment accounted for 10%, 13% and 16% of consolidated sales in fiscal 2012, 2011 and 2010, respectively, and 10%, 11% and 13% of consolidated accounts receivable at the end of fiscal 2012, 2011 and 2010, respectively.

Sales to a customer of the Engineered Films segment accounted for 11% of consolidated sales in fiscal 2012 and 1% of consolidated accounts receivable at the end of fiscal 2012.

The table below provides a summary of net sales by principal product categories:

	For the years ended January 31
	2012		2011		2010
Agricultural precision control devices and accessories	$	131,169	$	98,402	$	83,236
Pit lining and geomembrane films	80,154		55,048		26,834
Other plastic films	53,327		50,483		36,739
Tethered aerostats	17,749		22,423		3,048
Parachutes and protective wear	26,069		17,375		15,732
Electronic manufacturing services	63,241		60,333		60,749
Other	9,802		10,644		11,444
Total sales	$	381,511	$	314,708	$	237,782

Foreign sales are attributed to product delivered to non-U.S. locations. Sales to countries outside the United States, primarily to Canada and Brazil, were as follows:

	For the years ended January 31
	2012		2011		2010
Applied Technology	$	32,931	$	21,349	$	17,140
Engineered Films	3,161		2,200		1,383
Aerostar	1,282		427		1,219
Electronic Systems	1,535		693		495
Total foreign sales	$	38,909	$	24,669	$	20,237