User uShare Login | Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.

31° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options



 Winter Storm for November 30, 2015

Snow Outlook

Severe Weather

State Radar

Click here for local closings & delays

Send photos to

Storm Center Update



[0] My Saved Articles
Back to all news


Find local businesses
on the KELO Pages!


Raven Balloons In Demand By Google

August 20, 2014, 9:10 AM by Angela Kennecke

Raven Balloons In Demand By Google

Raven Industries reports that sales for the second quarter are up to $94.5 million from $93.4 million the same time last year, due in part to Google's Project Loon, which uses the company's balloons.   

Balloon sales for Google Project Loon were up 175 percent. The balloons that bring Internet service to remote areas are lasting about 75 days. Raven expects to increase its balloon production for the project in the next quarter.  But ramping up production is expected to temporarily stall the growth rate.  

Sales also rose 14 percent in the company's Engineered Films division. This was offset by sales declines in the Applied Technology and Aerostar divisions and led to net income of $7.7 million. For the first half of 2014, sales were $197.0 million, essentially flat with last year's $197.1 million. Net income is down for the period, totaling $18.8 million, or $0.51 per diluted share, versus $22.3 million, or $0.61 per diluted share, in fiscal 2014.

"Engineered Films again delivered strong performance, posting double-digit gains over the prior-year period," said Daniel A. Rykhus, Raven's President and Chief Executive Officer. "Consolidated sales and net income for the corporation fell short of expectations primarily due to persisting weakness in agriculture equipment markets. Within Aerostar, we are pleased that our work with Google is ramping successfully." 

Previous Story

Next Story



View business

You may also like

Board Of Education Member Had Multiple Contracts With State

11/23/2015 6:05 PM

That means in addition to her state salaries at USD and Northern State, Duncan earned an additional $124,000 in contracts from the Department of Educa...

Full Story | Watch
Fired GEAR UP Worker Defends Stacy Phelps

11/24/2015 6:05 PM

When the state pulled its multi-million dollar GEAR UP contract from Mid Central Educational Co-Op in September, all the current GEAR UP workers were ...

Full Story | Watch
Bison Ranch Owner By Turner Gets Permit For Feedlot Addition

11/25/2015 1:35 PM

Stanley County commissioners have approved a feedlot at a bison ranch owned by media mogul Ted Turner.

Full Story
Some Black Friday Deals Are Not Deals

11/23/2015 4:51 PM

Recent research found just because something is called a doorbuster doesn't mean it's significantly discounted.

Full Story
City Of Sioux Falls Buying Homes In Area that Floods

11/24/2015 6:05 PM

Homeowners have the option to voluntarily sell their house if they are concerned about flooding or if they have had problems with flooding. By tearing...

Full Story | Watch