Business Segments and Major Customer Information

12 Months Ended

Jan. 31, 2014

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, save time 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 and seeder controls, harvest controls, motor controls and an integrated RTK and information platform called Slingshot. Applied Technology services include high-speed, in-field internet connectivity and cloud-based data management.

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 proprietary products including high-altitude balloons, tethered aerostats and radar processing systems. These products can be integrated with additional third-party sensors to provide research, communications and situational awareness to government and commercial customers. Aerostar also produces products such as military parachutes, uniforms and protective wear as a contract manufacturing services provider as well as being a total solutions provider of electronics manufacturing services.

Through Vista and AIS, Aerostar pursues potential product and support services contracts for agencies and instrumentalities of the U.S. government. Vista positions the Company to meet growing global demand for lower-cost detection and tracking systems used by government and law enforcement agencies. As a leading provider of surveillance systems that enhance the effectiveness of radar using sophisticated algorithms, Vista products and services enhance Aerostar’s tethered aerostat security solutions.

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,
	2014			2013			2012
APPLIED TECHNOLOGY DIVISION
Sales	$	170,461		$	171,778		$	145,261
Operating income	57,000			59,590			49,750
Assets	93,395			84,224			73,872
Capital expenditures	9,324			10,780			11,971
Depreciation and amortization	4,332			3,874			2,571
ENGINEERED FILMS DIVISION
Sales	$	147,620		$	141,976		$	133,481
Operating income	18,154			25,115			21,501
Assets	71,602			65,801			65,100
Capital expenditures	6,681			11,539			10,937
Depreciation and amortization	5,808			5,814			4,313
AEROSTAR DIVISION
Sales	$	90,605		$	102,051		$	107,811
Operating income	7,816			10,341			18,308
Assets	63,017			60,689			72,089
Capital expenditures	7,507			2,081			4,105
Depreciation and amortization	2,616			2,272			1,684
INTERSEGMENT ELIMINATIONS
Sales
Applied Technology Division	$	(386	)	$	(974	)	$	(460	)
Engineered Films Division	(505		)	(124		)	(193		)
Aerostar Division	(13,118		)	(8,532		)	(4,389		)
Operating income	(111		)	(61		)	(188		)
Assets	(311		)	(347		)	(286		)
REPORTABLE SEGMENTS TOTAL
Sales	$	394,677		$	406,175		$	381,511
Operating income	82,859			94,985			89,371
Assets	227,703			210,367			210,775
Capital expenditures	23,512			24,400			27,013
Depreciation and amortization	12,756			11,960			8,568
CORPORATE & OTHER(a)
Operating (loss) from administrative expenses	$	(18,865	)	$	(17,293	)	$	(13,730	)
Assets	74,116			62,843			34,928
Capital expenditures	7,189			5,275			2,002
Depreciation and amortization	1,439			1,138			700
TOTAL COMPANY
Sales	$	394,677		$	406,175		$	381,511
Operating income	63,994			77,692			75,641
Assets	301,819			273,210			245,703
Capital expenditures	30,701			29,675			29,015
Depreciation and amortization	14,195			13,098			9,268

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

Sales to a customer of the Engineered Films segment accounted for 13% and 11% of consolidated sales in fiscal years 2014 and 2013, respectively and accounted for 2% and 3% of consolidated accounts receivable at January 31, 2014 and January 31, 2013, respectively.

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.

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,
	2014		2013		2012
Canada	$	16,141	$	20,640	$	15,237
South America	22,090		14,984		12,360
Other foreign sales	7,662		13,630		11,312
Total foreign sales	45,893		49,254		38,909
United States	348,784		356,921		342,602
	$	394,677	$	406,175	$	381,511