Business Segments and Major Customer Information

12 Months Ended

Jan. 31, 2013

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 product lines which have been grouped in these segments based on common technologies, production methods and inventories. These segments reflect Raven's organization into two Raven divisions and the Aerostar subsidiary. Raven's reportable segments are Applied Technology Division, Engineered Films Division and Aerostar Division. 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 and planter controls, motor controls and an integrated RTK and information platform called Slingshot.

Raven's Engineered Films Division manufactures high-performance plastic films and sheeting for major markets throughout the United States and abroad. An important part of this business is highly technical, engineered geomembrane films that protect environmental resources through containment linings and coverings for energy, agriculture, construction and industrial markets.

Aerostar designs and manufactures surveillance technology, electronic and specialty-sewn and sealed products including tethered aerostats, high-altitude scientific balloons and airships, protective wear, parachutes, military decoys and marine navigation equipment. Aerostar also provides electronics manufacturing services (EMS) for commercial customers with a focus on high-mix, low-volume production. Assemblies manufactured by the Aerostar segment include avionics, communication, environmental controls and other products where high quality is critical. Aerostar acquired Vista at the end of fiscal 2012. Vista's smart-sensing radar systems use sophisticated signal processing algorithms and are employed in a host of detection and tracking applications, including wide area surveillance for border patrol and the military.

The Company realigned the assets and team members of its Electronic Systems Division and deployed them into the Company's Aerostar and Applied Technology Divisions effective June 1, 2012. The realigned divisions will better align the Company's corporate structure with its mission and long-term growth strategies. Electronic Systems net sales of electronic manufacturing assemblies were realigned to Aerostar and the remaining proprietary products, after adjustments to intersegment eliminations, to Applied Technology. The Company adjusted its segment information, retrospectively, for all periods presented to reflect this change in segment reporting.

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,
	2013			2012						2011
				Previously Reported			Revised			Previously Reported			Revised
APPLIED TECHNOLOGY DIVISION
Sales	$	171,778		$	132,632		$	145,261		$	100,090		$	107,910
Operating income	59,590			45,358			49,750			31,135			33,197
Assets	84,224			69,977			73,872			52,669			55,740
Capital expenditures	10,780			11,408			11,971			1,769			1,947
Depreciation and amortization	3,874			2,351			2,571			2,238			2,483
ENGINEERED FILMS DIVISION
Sales	$	141,976		$	133,481		$	133,481		$	105,838		$	105,838
Operating income (b)	25,115			21,501			21,501			19,622			19,622
Assets	65,801			65,100			65,100			46,519			46,519
Capital expenditures	11,539			10,937			10,937			8,450			8,450
Depreciation and amortization	5,814			4,313			4,313			3,452			3,452
AEROSTAR DIVISION
Sales	$	102,051		$	52,351		$	107,811		$	48,787		$	104,384
Operating income	10,341			11,468			18,308			9,407			17,209
Assets	60,689			51,822			72,089			18,140			38,366
Capital expenditures	2,081			3,875			4,105			2,190			2,621
Depreciation and amortization	2,272			1,079			1,684			757			1,335
ELECTRONIC SYSTEMS DIVISION
Sales	$	—		$	71,744		$	—		$	65,852		$	—
Operating income	—			11,264			—			9,917			—
Assets	—			24,281			—			23,385			—
Capital expenditures	—			793			—			609			—
Depreciation and amortization	—			825			—			823			—
INTERSEGMENT ELIMINATIONS
Sales
Applied Technology Division	$	(974	)	$	—		$	(460	)	$	—		$	(226	)
Engineered Films Division	(124		)	(193		)	(193		)	(307		)	(307		)
Aerostar Division	(8,532		)	(1		)	(4,389		)	(32		)	(2,891		)
Electronic Systems Division	—			(8,503		)	—			(5,520		)	—
Operating income	(61		)	(220		)	(188		)	(94		)	(41		)
Assets	(347		)	(405		)	(286		)	(186		)	(98		)
REPORTABLE SEGMENTS TOTAL
Sales	$	406,175		$	381,511		$	381,511		$	314,708		$	314,708
Operating income (b)	94,985			89,371			89,371			69,987			69,987
Assets	210,367			210,775			210,775			140,527			140,527
Capital expenditures	24,400			27,013			27,013			13,018			13,018
Depreciation and amortization	11,960			8,568			8,568			7,270			7,270
CORPORATE & OTHER(a)
Operating (loss) from administrative expenses	$	(17,293	)	$	(13,730	)	$	(13,730	)	$	(9,784	)	$	(9,784	)
Assets	62,843			34,928			34,928			47,233			47,233
Capital expenditures	5,275			2,002			2,002			954			954
Depreciation and amortization	1,138			700			700			361			361
TOTAL COMPANY
Sales	$	406,175		$	381,511		$	381,511		$	314,708		$	314,708
Operating income (b)	77,692			75,641			75,641			60,203			60,203
Assets	273,210			245,703			245,703			187,760			187,760
Capital expenditures	29,675			29,015			29,015			13,972			13,972
Depreciation and amortization	13,098			9,268			9,268			7,631			7,631

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

^(b) The year ended January 31, 2011 includes a $451 pre-tax gain on disposition of assets.

Sales to a customer of the Engineered Films segment accounted for 11% of consolidated sales in fiscal 2013 and accounted for 3% of consolidated accounts receivable at January 31, 2013.

For fiscal 2012, one customer of the Aerostar segment and one customer of the Engineered Films segment each accounted for 10% of consolidated sales. These customers comprised 10% and 1%, respectively, of consolidated accounts receivable at January 31, 2012.

One customer of the Aerostar segment accounted for 11% of consolidated accounts receivable and 13% of consolidated net sales at and for the period ended January 31, 2011.

Foreign sales are attributed to countries based on location of the customer. Net sales to customers outside the United States were as follows:

	For the years ended January 31,
	2013		2012		2011
Canada	$	20,640	$	15,237	$	12,694
Other foreign sales	28,614		23,672		11,975
Total foreign sales	49,254		38,909		24,669
United States	356,921		342,602		290,039
	$	406,175	$	381,511	$	314,708