From the Argus Leader, it sounds as if Stephanie Herseth Sandlin’s employer Raven Industries is having a bad couple of days:
Sioux Falls-based Raven Industries Inc. took a 73 drop in net income for its fiscal year, driven by continued market challenges and a big decline in sales in the Aerostar division.
Net income was $8.5 million, or 23 cents per share, compared with $31.7 million, or 86 cents per share in the previous fiscal year.
The fourth quarter, which ended Jan. 31, was particularly challenging with sales declines in all three divisions.
Raven reported net income of $1 million, or 3 cents per share in the fourth quarter, compared with $6.2 million, or 16 cents per share, for the same time in the previous year.
Read that here. And in trading so far today…
I don’t think that arrow is going in the direction they want it to be.