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Raven Industries Inc. Message Board

  • palosparkflash palosparkflash Aug 19, 2013 9:10 AM Flag

    Google Interest in Raven

    During the quarter, Raven announced that Google plans to use Aerostar-designed and developed high-tech balloons as part of its new project for balloon-powered Internet access, Project Loon. While the program is still in its early stages, a successful trial took place in June involving 30 balloons providing Internet connectivity to an area covering nearly 10,000 square kilometers. For the remainder of fiscal 2014, Raven anticipates modest revenues from the project with the possibility of significant revenue growth in the first half of fiscal 2015, subject to continued success as Project Loon progresses.

    Within Aerostar, Vista Research continued to deliver strong sales, rising approximately 20 percent, driven by support activities under existing contracts for Vista's Smart Sensing Radar Systems. Over the past year Raven has accelerated investments in advancing our radar technology through improved designs, anti-tamper software, government certifications, ITAR compliance and approvals, marketing and months-long tests and demonstration efforts.

    Based on these efforts and successful field test performance results with the Vista radar systems, Vista Research has been selected by a large U.S. prime contractor as a preferred radar solution for future U.S. and export opportunities. This has already resulted in the sale of multiple systems through the new channel.

    Said Rykhus, "Our involvement with Google is another example of Raven's ability to pioneer leading-edge applications of our adaptable technology, and if this unique collaboration effort overcomes a number of significant risk factors it may constitute another breakout opportunity for which Aerostar has positioned itself in recent years.

19.04+0.10(+0.53%)4:00 PMEDT