Raven Industries (RAVN) 10-Q 24 Aug 17 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 31, 2017	Aug. 18, 2017
Document Information [Line Items]
Entity Registrant Name	RAVEN INDUSTRIES INC
Entity Central Index Key	82,166
Current Fiscal Year End Date	--01-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jul. 31, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		36,103,017

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jul. 31, 2017	Jan. 31, 2017	Jul. 31, 2016
Current assets
Cash and cash equivalents	$ 55,197	$ 50,648	$ 40,123
Accounts receivable, net	46,398	43,143	38,645
Inventories	50,844	42,336	45,502
Other current assets	3,670	2,689	4,958
Total current assets	156,109	138,816	129,228
Property, plant and equipment, net	105,723	106,324	110,706
Goodwill	40,841	40,649	40,752
Amortizable intangible assets, net	11,228	12,048	12,888
Other assets	3,295	3,672	3,783
TOTAL ASSETS	317,196	301,509	297,357
Current liabilities
Accounts payable	12,597	8,467	10,076
Accrued liabilities	18,724	18,055	14,085
Customer advances	456	1,860	913
Total current liabilities	31,777	28,382	25,074
Other liabilities	12,348	13,696	13,827
Commitments and contingencies	0	0	0
Shareholders' equity
Common stock, $1 par value, authorized shares 100,000; issued 67,087; 67,060; and 67,060, respectively	67,087	67,060	67,060
Paid-in capital	57,510	55,795	54,962
Retained earnings	241,739	230,649	229,959
Accumulated other comprehensive income (loss)	(2,867)	(3,676)	(3,158)
Treasury stock at cost, 30,984; 30,984; and 30,984 shares, respectively	(90,402)	(90,402)	(90,402)
Total Raven Industries, Inc. shareholders' equity	273,067	259,426	258,421
Noncontrolling interest	4	5	35
Total equity	273,071	259,431	258,456
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 317,196	$ 301,509	$ 297,357

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) (Unaudited) - $ / shares	Jul. 31, 2017	Jan. 31, 2017	Jul. 31, 2016
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1	$ 1	$ 1
Common stock, shares authorized (in shares)	100,000,000	100,000,000	100,000,000
Common stock, shares issued (in shares)	67,080,000	67,060,000	67,060,000
Treasury stock, at cost (in shares)	30,984,000	30,984,000	30,984,000

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Income Statement [Abstract]
Net sales	$ 86,610	$ 67,598	$ 180,145	$ 135,958
Cost of sales	60,097	48,683	121,676	96,926
Gross profit	26,513	18,915	58,469	39,032
Research and development expenses	4,256	3,915	8,236	8,324
Selling, general, and administrative expenses	10,557	8,304	20,055	15,962
Long-lived asset impairment loss	0	0	259	0
Operating income	11,700	6,696	29,919	14,746
Other income (expense), net	(63)	(209)	(293)	(306)
Income before income taxes	11,637	6,487	29,626	14,440
Income tax expense	3,403	1,993	9,044	4,427
Net income	8,234	4,494	20,582	10,013
Net income (loss) attributable to the noncontrolling interest	(1)	(1)	(1)	1
Net income attributable to Raven Industries, Inc.	$ 8,235	$ 4,495	$ 20,583	$ 10,012
Net income per common share:
Basic (in dollars per share)	$ 0.23	$ 0.12	$ 0.57	$ 0.28
Diluted (in dollars per share)	0.23	0.12	0.56	0.28
Cash dividends paid per common share (in dollars per share)	$ 0.13	$ 0.13	$ 0.26	$ 0.26
Comprehensive income (loss):
Net income	$ 8,234	$ 4,494	$ 20,582	$ 10,013
Other comprehensive income (loss):
Foreign currency translation	810	(265)	822	347
Postretirement benefits, net of income tax benefit (expense) of $3, $1, $7 and $2, respectively	(7)	(2)	(13)	(4)
Other comprehensive income (loss), net of tax	803	(267)	809	343
Comprehensive income	9,037	4,227	21,391	10,356
Comprehensive income (loss) attributable to noncontrolling interest	(1)	(1)	(1)	1
Comprehensive income attributable to Raven Industries, Inc.	$ 9,038	$ 4,228	$ 21,392	$ 10,355

Consolidated Statements of Inc5

Consolidated Statements of Income and Comprehensive Income (Unaudited) (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Income Statement [Abstract]
Other comprehensive income, postretirement benefits, income tax (expense) benefit	$ 3	$ 1	$ 7	$ 2

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	$1 Par Common Stock [Member]	Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Raven Industries, Inc. Equity [Member]	Non-controlling Interest [Member]
Balance at beginning of period at Jan. 31, 2016	$ 264,229	$ 67,006	$ 53,907	$ (82,700)	$ 229,443	$ (3,501)	$ 264,155	$ 74
Treasury stock at beginning of period (in shares) at Jan. 31, 2016				30,500,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	10,013				10,012		10,012	1
Other comprehensive income (loss):
Cumulative foreign currency translation adjustment	347					347	347
Postretirement benefits reclassified from accumulated other comprehensive income (loss) after tax (expense) benefit	(4)					(4)	(4)
Cash dividends	(9,388)		108		(9,496)		(9,388)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	40	0	0		0		0	40
Shares issued on vesting of stock units, net of shares withheld for employee taxes	(256)	35	(291)				(256)
Director shares issued	$ 0	19	(19)				0
Shares repurchased, Treasury Stock	484,252			484,000
Shares repurchased	$ (7,702)			$ (7,702)			(7,702)
Share-based compensation	1,574	0	1,574				1,574
Income tax impact related to share-based compensation	(317)		(317)				(317)
Balance at end of period at Jul. 31, 2016	$ 258,456	67,060	54,962	$ (90,402)	229,959	(3,158)	258,421	35
Treasury stock at end of period (in shares) at Jul. 31, 2016	30,984,000			30,984,000
Balance at beginning of period at Jan. 31, 2017	$ 259,431	67,060	55,795	$ (90,402)	230,649	(3,676)	259,426	5
Treasury stock at beginning of period (in shares) at Jan. 31, 2017	30,984,000			30,984,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 20,582				20,583		20,583	(1)
Other comprehensive income (loss):
Cumulative foreign currency translation adjustment	822					822	822
Postretirement benefits reclassified from accumulated other comprehensive income (loss) after tax (expense) benefit	(13)					(13)	(13)
Cash dividends	(9,384)		109		(9,493)		(9,384)
Stock issued on stock options exercised, net of shares withheld for employee taxes	(148)	12	(160)				(148)
Shares issued on vesting of stock units, net of shares withheld for employee taxes	(151)	11	(162)				(151)
Director shares issued	$ 0	4	(4)				0
Shares repurchased, Treasury Stock	0
Share-based compensation	$ 1,932	0	1,932				1,932
Balance at end of period at Jul. 31, 2017	$ 273,071	$ 67,087	$ 57,510	$ (90,402)	$ 241,739	$ (2,867)	$ 273,067	$ 4
Treasury stock at end of period (in shares) at Jul. 31, 2017	30,984,000			30,984,000

Consolidated Statements of Sha7

Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 0.260	$ 0.260
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax	$ 7	$ 2

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
OPERATING ACTIVITIES:
Net income	$ 20,582	$ 10,013
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	7,184	7,633
Change in fair value of acquisition-related contingent consideration	145	124
Long-lived asset impairment loss	259	0
Loss from equity investment	154	82
Deferred income taxes	(942)	1,057
Share-based compensation expense	1,932	1,574
Other operating activities, net	174	(184)
Change in operating assets and liabilities:
Accounts receivable	(3,279)	(505)
Inventories	(8,466)	391
Other assets	(1,257)	(871)
Operating liabilities	3,375	6,244
Net cash provided by operating activities	19,861	25,558
INVESTING ACTIVITIES:
Capital expenditures	(5,223)	(2,168)
Proceeds from sale or maturity of investments	250	250
Purchase of investments	(255)	(500)
Proceeds (disbursements) from sale of assets	(344)	1,117
Other investing activities	(17)	(339)
Net cash used in investing activities	(5,589)	(1,640)
FINANCING ACTIVITIES:
Dividends paid	(9,384)	(9,428)
Payments for common shares repurchased	0	(7,702)
Payments of acquisition-related contingent liability	(320)	(282)
Restricted stock units vested and issued	(151)	(256)
Employee stock options exercises	(148)	0
Net cash used in financing activities	(10,003)	(17,668)
Effect of exchange rate changes on cash	280	91
Net increase (decrease) in cash and cash equivalents	4,549	6,341
Cash and cash equivalents at beginning of year	50,648	33,782
Cash and cash equivalents at end of period	$ 55,197	$ 40,123

Basis of Presentation and Princ

Basis of Presentation and Principles of Consolidation	6 Months Ended
	Jul. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Principles of Consolidation	BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION Raven Industries, Inc. (the Company or Raven) is a diversified technology company providing a variety of products to customers within the industrial, agricultural, geomembrane, construction, and aerospace/defense markets. The Company is comprised of three unique operating units, or divisions, classified into reportable segments: Applied Technology, Engineered Films, and Aerostar. The accompanying interim unaudited consolidated financial statements, which includes the accounts of Raven and its wholly-owned or controlled subsidiaries, net of intercompany balances and transactions, has been prepared by the Company in accordance with generally accepted accounting principles in the United States (GAAP) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (SEC). Accordingly, these financial statements do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary to fairly present this financial information have been included. These financial statements should be read in conjunction with the audited consolidated financial statements and the accompanying notes included in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2017 . Financial results for the interim three- and six-month periods ended July 31, 2017 are not necessarily indicative of the results that may be expected for the year ending January 31, 2018. The January 31, 2017 consolidated balance sheet was derived from audited financial statements, but does not include all disclosures required in an annual report on Form 10-K. Preparing financial statements in conformity with GAAP requires management to make certain estimates and assumptions. These affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Noncontrolling interests represent capital contributions, income and loss attributable to the owners of less than wholly-owned consolidated entities. The Company owns a 75%

Summary of Significant Accounti

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Notes)	6 Months Ended
	Jul. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES There have been no material changes to the Company's significant accounting policies as described in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2017 other than described below in the Accounting Standards Adopted section. Accounting Pronouncements Accounting Standards Adopted In the fiscal 2018 first quarter, the Company early adopted Accounting Standards Update (ASU) No. 2017-04 (issued by the Financial Accounting Standards Board (FASB) in January 2017), "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment" (ASU 2017-04) on a prospective basis . This ASU removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Under the new guidance, a goodwill impairment will be measured as the amount by which a reporting unit’s carrying value exceeds its fair value. The amount of any impairment may not exceed the carrying amount of goodwill. The amendments should be applied on a prospective basis. As discussed in Note 6 Goodwill, Long-lived Assets, and Other Intangibles , management performed an assessment in the fiscal 2018 first and second quarters and determined no triggering events had occurred for any of its three reporting units; therefore, the early adoption of this guidance did not have any impact on the consolidated financial statements or the results of operations as of and for the three- or six-month periods ended July 31, 2017. In the fiscal 2018 first quarter when it became effective, the Company adopted FASB ASU 2016-09 (issued in March 2016), "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" (ASU 2016-09). ASU 2016-09 amends the accounting for employee share-based payment transactions to require recognition of the tax effects resulting from the settlement of stock-based awards as discrete income tax expense or benefit in the income statement in the reporting period in which they occur. This guidance also requires that all tax-related cash flows resulting from share-based awards be disclosed as operating cash flows in the statement of cash flows and that cash paid to taxing authorities on the behalf of employees for withheld shares be classified as a financing activity in the statement of cash flows. Finally, this ASU allows companies to make an accounting policy election to either estimate the number of awards that are expected to vest, consistent with current GAAP, or account for forfeitures when they occur. The Company accounts for forfeitures as they occur. The Company is prospectively recognizing excess tax benefits or deficits on vesting or settlement of awards, when they occur, as a discrete income tax benefit or expense instead of as additional paid-in capital as required under previous guidance. This change to the Company's accounting policies resulted in recognition of income tax expense of $90 and $569 for the three- and six-month periods ended July 31, 2017. These tax-related cash flows are now classified within operating activities. The Company classifies tax payments made to taxing authorities on the employee's behalf for withheld shares as a financing activity on the statement of cash flows, as such the adoption of this guidance had no impact. Under the new guidance, excess tax benefits are no longer included in assumed proceeds under the treasury stock method of calculating earnings per share. The increase in incremental shares used in the weighted average diluted shares calculation was not material to the Company's diluted earnings per share calculation. In the fiscal 2018 first quarter when it became effective, the Company adopted the FASB ASU No. 2015-11 (issued in July 2015), "Inventory (Topic 330) Simplifying the Measurement of Inventory" (ASU 2015-11) on a prospective basis. The amendments in ASU 2015-11 clarify that an entity should measure inventory within the scope of this update at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Substantial and unusual losses that result from subsequent measurement of inventory should be disclosed in the financial statements. Previously the Company reported its inventory at the lower of cost or market. Market was defined as replacement cost with a ceiling of net realizable value and a floor of net realizable value less a normal profit margin. The Company evaluates its inventory in all three reporting segments quarterly to determine if cost exceeds net realizable value and records a write-down, if necessary. The adoption of this guidance did not have any impact on the consolidated financial statements or the results of operations as of and for the three- and six-month period ended July 31, 2017. New Accounting Standards Not Yet Adopted In May 2017, the FASB issued ASU No. 2017-09, "Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting" (ASU 2017-09). The guidance amends the scope of modification accounting for share-based payment arrangements. The ASU provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under Topic 718. Specifically, an entity would not apply modification accounting if the fair value, vesting conditions, and classification of the awards as equity instruments or a liability instruments are the same immediately before and after the modification to the award. The guidance is effective for annual periods, including interim periods, in fiscal years beginning after December 15, 2017. Early adoption is permitted and the amendments should be applied prospectively to an award modified on or after the adoption date. The Company currently has no plans to modify any of its outstanding awards. The Company will consider early adopting this guidance if modifications to its share-based compensation arrangements are likely to occur. The Company does not expect the adoption of this guidance will have a significant impact on its consolidated financial statements, results of operations, and disclosures. In March 2017, the FASB issued ASU No. 2017-07, "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Postretirement Benefit Cost" (ASU 2017-07). The guidance clarifies where the cost components of the net benefit cost should be reported in the income statement and it allows only the service cost to be capitalized. Currently the Company reports all of the components of the net benefit cost in "Operating income" in the Consolidated Statement of Income and Comprehensive Income. The net benefit cost for participants that are active employees is reported in the same manner as each participant's compensation cost is classified in the Consolidated Statement of Income and Comprehensive Income. The net benefit cost attributable to retired (inactive) participants is reported in "Selling, general, and administrative expenses" in the Consolidated Statement of Income and Comprehensive Income. Under the new guidance only the service cost component of the net benefit cost will be classified the same as the participant's compensation cost. The other components of the net benefit cost are required to be reported separately as a non-operating income (expense). The guidance is effective for annual periods, including interim periods, in fiscal years beginning after December 15, 2017. Early adoption is permitted and the amendments should be applied retrospectively. The Company does not expect this guidance will have a significant impact on its consolidated financial statements, results of operations and disclosures since it primarily will only change how the net benefit cost is classified in the Company's Consolidated Statements of Income and Comprehensive Income. In February 2016 the FASB issued ASU No. 2016-02, "Leases (Topic 842)" (ASU 2016-02). The primary difference between previous GAAP and ASU 2016-02 is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. The guidance requires a lessee to recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. When measuring assets and liabilities arising from a lease, a lessee (and a lessor) should include payments to be made in optional periods only if the lessee is reasonably certain to exercise an option to extend the lease or not to exercise an option to terminate the lease. Similarly, optional payments to purchase the underlying asset should be included in the measurement of lease assets and lease liabilities only if the lessee is reasonably certain to exercise that purchase option. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018. Lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that entities may elect to apply. An entity that elects to apply the practical expedients will, in effect, continue to account for leases that commence before the effective date in accordance with previous GAAP unless the lease is modified, except that lessees are required to recognize a right-of-use asset and a lease liability for all operating leases at each reporting date based on the present value of the remaining minimum rental payments that were tracked and disclosed under previous GAAP. The Company is evaluating the impact the adoption of this guidance will have on its consolidated financial statements, results of operations, and disclosures.

Net Income per Share

Net Income per Share	6 Months Ended
	Jul. 31, 2017
Earnings Per Share [Abstract]
Net Income per Share	NET INCOME PER SHARE Basic net income per share is computed by dividing net income by the weighted average common shares and fully vested stock units outstanding. Diluted net income per share is computed by dividing net income by the weighted average common and common equivalent shares outstanding which includes the shares issuable upon exercise of employee stock options (net of shares assumed purchased with the option proceeds), stock units, and restricted stock units outstanding. Performance share awards are included in the diluted calculation based upon what would be issued if the end of the most recent reporting period was the end of the term of the award. Weighted average common and common equivalent shares outstanding are excluded from the diluted loss per share calculation if their inclusion would have an antidilutive effect. Certain outstanding options and restricted stock units were excluded from the diluted net income per-share calculations because their effect would have been anti-dilutive under the treasury stock method. The options and restricted stock units excluded from the diluted net income per-share share calculation were as follows: Three Months Ended Six Months Ended July 31, July 31, July 31, July 31, Anti-dilutive options and restricted stock units 209,400 924,204 409,136 1,102,952 The computation of earnings per share is presented below: Three Months Ended Six Months Ended July 31, July 31, July 31, July 31, Numerator: Net income attributable to Raven Industries, Inc. $ 8,235 $ 4,495 $ 20,583 $ 10,012 Denominator: Weighted average common shares outstanding 36,096,048 36,097,228 36,088,095 36,208,573 Weighted average fully vested stock units outstanding 109,146 110,083 103,966 102,035 Denominator for basic calculation 36,205,194 36,207,311 36,192,061 36,310,608 Weighted average common shares outstanding 36,096,048 36,097,228 36,088,095 36,208,573 Weighted average fully vested stock units outstanding 109,146 110,083 103,966 102,035 Dilutive impact of stock options and restricted stock units 348,795 43,001 322,661 51,547 Denominator for diluted calculation 36,553,989 36,250,312 36,514,722 36,362,155 Net income per share - basic $ 0.23 $ 0.12 $ 0.57 $ 0.28 Net income per share - diluted $ 0.23 $ 0.12 $ 0.56 $ 0.28

Selected Balance Sheet Informat

Selected Balance Sheet Information	6 Months Ended
	Jul. 31, 2017
Selected Balance Sheet Information [Abstract]
Selected Balance Sheet Information	SELECTED BALANCE SHEET INFORMATION Following are the components of selected items from the Consolidated Balance Sheets: July 31, 2017 January 31, 2017 July 31, 2016 Accounts receivable, net: Trade accounts $ 47,350 $ 43,834 $ 39,203 Allowance for doubtful accounts (952 ) (691 ) (558 ) $ 46,398 $ 43,143 $ 38,645 Inventories: Finished goods $ 5,878 $ 5,438 $ 4,784 In process 1,510 2,288 1,929 Materials 43,456 34,610 38,789 $ 50,844 $ 42,336 $ 45,502 Other current assets: Insurance policy benefit $ 734 $ 802 $ 762 Income tax receivable 409 604 1,652 Receivable from sale of business 35 28 103 Prepaid expenses and other 2,492 1,255 2,441 $ 3,670 $ 2,689 $ 4,958 Property, plant and equipment, net: Land $ 3,234 $ 3,054 $ 3,054 Buildings and improvements 79,648 77,817 78,310 Machinery and equipment 145,516 142,471 142,185 Accumulated depreciation (122,675 ) (117,018 ) (112,843 ) $ 105,723 $ 106,324 $ 110,706 Other assets: Equity method investments $ 2,057 $ 2,371 $ 2,611 Deferred income taxes 16 18 38 Other 1,222 1,283 1,134 $ 3,295 $ 3,672 $ 3,783 Accrued liabilities: Salaries and related $ 5,138 $ 6,286 $ 3,628 Benefits 3,868 3,960 3,632 Insurance obligations 2,492 2,400 1,975 Warranties 2,265 1,547 2,076 Income taxes 1,287 498 213 Other taxes 1,503 1,540 1,357 Acquisition-related contingent consideration 478 445 381 Other 1,693 1,379 823 $ 18,724 $ 18,055 $ 14,085 Other liabilities: Postretirement benefits $ 8,085 $ 8,054 $ 7,706 Acquisition-related contingent consideration 1,182 1,397 1,565 Deferred income taxes 488 1,421 1,557 Uncertain tax positions 2,593 2,610 2,999 Other — 214 — $ 12,348 $ 13,696 $ 13,827

Assets Held for Sale (Notes)

Assets Held for Sale (Notes)	6 Months Ended
	Jul. 31, 2017
Assets Held for Sale Disclosure [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	ASSETS HELD FOR SALE The Company continually analyzes its product and service offerings to ensure we serve market segments with attractive near- and long-term growth prospects that are consistent with our core capabilities. Through this continued evaluation the Company's Aerostar segment finalized a plan ("the Plan") to actively market the sale of its client private and radar product lines, which it has determined constitutes a business. During the second quarter of fiscal 2018 the Company determined that it was probable that these product lines would be sold within one year. The Company has identified specific assets and liabilities likely to be sold, including an allocation of goodwill based on the relative fair value of the business to be sold. Currently, the Company estimates the fair value of the net assets held for sale is in excess of their net book value. As such there is no impact to the Consolidated Statement of Income for the three- or six-month period ended July 31, 2017. Under the Plan, Aerostar will remain focused on serving the aerospace/defense market with its stratospheric balloon product and service offerings. Amounts classified as held for sale were as follows: July 31, 2017 Assets held for sale Inventories $ 3,212 Other current assets 18 Total current assets held for sale 3,230 Property, plant and equipment, net 238 Goodwill 102 Amortizable intangible assets, net 387 Other assets 17 Total assets held for sale $ 3,974 Liabilities held for sale Current liabilities $ 292 Other long-term liabilities 125 Total liabilities held for sale $ 417

Acquisitions of and Investments

Acquisitions of and Investments in Businesses and Technologies	6 Months Ended
	Jul. 31, 2017
Business Combinations [Abstract]
Acquisitions of and Investments in Businesses and Technologies	ACQUISITIONS OF AND INVESTMENTS IN BUSINESSES AND TECHNOLOGIES Ag-Eagle Aerial Systems, Inc. In February 2016, the Applied Technology Division acquired an interest of approximately 5% in AgEagle Aerial Systems, Inc. (AgEagle). AgEagle is a privately held company that is a provider of unmanned aerial systems (UAS) used for agricultural applications. Contemporaneously with the execution of this agreement, AgEagle and the Company entered into a distribution agreement whereby the Company was appointed as the exclusive distributor of the existing AgEagle system as it pertains to the agriculture market. The Company’s equity ownership interest is considered a variable interest and it accounts for this investment under the equity method of accounting. The Company is not the primary beneficiary as the Company does not have the power to direct the activities that most significantly impact the VIE’s economic performance and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the entity. The purchase price was allocated between the equity ownership interest and an intangible asset for the exclusive distribution agreement. In April 2017, the Company determined that the investment in AgEagle, was fully impaired, further described in Note 7 Goodwill, Long-lived Assets and Other Intangibles , due to lower than expected cash flows. The Company has no commitments or guarantees related to this equity method investment. Acquisition-related Contingent Consideration The Company has contingent liabilities related to prior year acquisitions of SBG Innovatie BV and its affiliate, Navtronics BVBA (collectively, SBG) in May 2014 and Vista Research, Inc. (Vista) in January 2012. The fair value of such contingent consideration is estimated as of the acquisition date, and subsequently at the end of each reporting period, using forecasted cash flows. Projecting future cash flows requires the Company to make significant estimates and assumptions regarding future events, conditions, or revenues being achieved under the subject contingent agreement as well as the appropriate discount rate. Such valuation techniques include one or more significant inputs that are not observable (Level 3 fair value measures). In connection with the acquisition of SBG, Raven is committed to making additional earn-out payments, not to exceed $2,500 calculated and paid quarterly for ten years after the purchase date contingent upon achieving certain revenues. At July 31, 2017 , the fair value of this contingent consideration was $1,285 , of which $228 was classified as "Accrued liabilities" and $1,057 was classified as "Other liabilities" in the Consolidated Balance Sheet. At January 31, 2017, the fair value of this contingent consideration was $1,409 , of which $247 was classified as "Accrued liabilities" and $1,162 was classified as "Other liabilities". At July 31, 2016 , the fair value of this contingent consideration was $1,397 , of which $228 was classified as "Accrued liabilities" and $1,169 as "Other liabilities." The Company paid $160 and $220 in earn-out payments in the three- and six-month periods ended July 31, 2017 , respectively. The Company paid $143 and $203 in earn-out payments in the three - and six-month periods ended July 31, 2016 , respectively. To date, the Company has paid a total of $803 of this potential earn-out liability. Related to the acquisition of Vista in 2012 , the Company is committed to making annual payments based upon earn-out percentages on specific revenue streams for seven years after the purchase date, not to exceed $15,000 . At July 31, 2017 , the fair value of this contingent consideration was $282 , of which $157 was classified in "Accrued liabilities" and $125 as "Other liabilities" in the Consolidated Balance Sheet. At January 31, 2017, the fair value of this contingent consideration was $332 , of which $98 was classified in "Accrued liabilities" and $234 as "Other liabilities." At July 31, 2016 the fair value of this contingent consideration was $504 , of which $108 was classified as "Accrued liabilities" and $396 as "Other liabilities." The Company paid $100 and $79 in earn-out payments in the six-month periods ended July 31, 2017 and 2016 , respectively. The Company made no payments in the three-month periods ended July 31, 2017 or 2016 . To date, the Company has paid a total of $1,572

Goodwill, Long-lived Assets and

Goodwill, Long-lived Assets and Other Intangibles Goodwill, Long-lived Assets and Other Intangibles (Notes)	6 Months Ended
	Jul. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill Impairment Loss and Other Charges	GOODWILL, LONG-LIVED ASSETS, AND OTHER INTANGIBLES Goodwill Management assesses goodwill for impairment annually during the fourth quarter and between annual tests whenever a triggering event indicates there may be an impairment. Impairment tests of goodwill are done at the reporting unit level. Management performed an assessment in fiscal 2018 second quarter and determined that no triggering events had occurred for any of the Company's reporting units. There were no goodwill impairment losses reported in the three- and six-month periods ended July 31, 2017. During the first quarter of fiscal 2017 which ended April 30, 2016, management implemented managerial and financial operations and reporting changes within Vista and Aerostar to further integrate Vista into the Aerostar Division. Integration actions included leadership re-alignment, including selling and business development functions, re-deployment of employees across the division, and consolidation of administrative functions, among other actions. Based on the changes made, the Company consolidated the two separate reporting units within the Aerostar Division that were in existence at that time, into one reporting unit for purposes of goodwill impairment assessment. As such, as of April 30, 2016, the Company had three reporting units: Engineered Films Division, Applied Technology Division, and Aerostar Division. The Company reviewed the quantitative and qualitative factors associated with the change in reporting units and determined there were no indicators of impairment at the time of the reporting unit change. There were no goodwill impairment losses reported in the three- and six-month periods ended July 31, 2016. The changes in the carrying amount of goodwill by reporting unit were as follows: Applied Technology Engineered Films Aerostar Total Balance at January 31, 2017 $ 12,342 $ 27,518 $ 789 $ 40,649 Divestiture of business — — (52 ) (52 ) Foreign currency translation adjustment 244 — — 244 Balance at July 31, 2017 $ 12,586 $ 27,518 $ 737 $ 40,841 Balance at January 31, 2016 $ 12,365 $ 27,518 $ 789 $ 40,672 Foreign currency translation adjustment 80 — — 80 Balance at July 31, 2016 $ 12,445 $ 27,518 $ 789 $ 40,752 Long-lived Assets and Other Intangibles The Company assesses the recoverability of long-lived assets, including definite-lived intangibles, equity method investments, and property plant and equipment if events or changes in circumstances indicate that an asset might be impaired. For long-lived and intangible assets, the Company performs impairment reviews by asset groups. When performing long-lived asset testing, the fair values of assets are determined based on valuation techniques using the best available information. Such valuations are derived from valuation techniques in which one or more significant inputs are not observable (Level 3 fair value measures). An impairment loss is recognized when the carrying amount of an asset is above the estimated undiscounted cash flows used in determining the fair value of the asset. During first quarter of fiscal 2018, the Company determined that the investment in AgEagle, further described in Note 6 Acquisitions of and Investments in Businesses and Technologies, was impaired due to lower than expected cash flows. This impairment was determined to be other-than-temporary and an accelerated equity method investment loss of $72 was reported in "Other (expense), net" in the Consolidated Statements of Income and Comprehensive Income for the six-month period ended July 31, 2017. The Company also determined the customer relationship intangible asset related to the Ag Eagle exclusive distribution agreement was fully impaired. The total impairment loss reported related to this intangible asset was $259 and was reported in "Long-lived asset impairment loss" in the Consolidated Statements of Income and Comprehensive Income for the six-month period ended July 31, 2017. There were no long-lived asset impairments or accelerated equity method investment losses reported in the three-month period ended July 31, 2017 or the three- and six-month periods ended July 31, 2016, respectively. The following table provides the gross carrying amount and related accumulated amortization of definite-lived intangible assets: July 31, 2017 January 31, 2017 July 31, 2016 Accumulated Accumulated Accumulated Amount amortization Net Amount amortization Net Amount amortization Net Existing technology $ 7,230 $ (6,775 ) $ 455 $ 7,136 $ (6,553 ) $ 583 $ 7,175 $ (6,423 ) $ 752 Customer relationships 12,787 (4,206 ) 8,581 12,987 (3,680 ) 9,307 13,012 (3,160 ) 9,852 Patents and other intangibles 4,530 (2,338 ) 2,192 4,378 (2,220 ) 2,158 4,352 (2,068 ) 2,284 Total $ 24,547 $ (13,319 ) $ 11,228 $ 24,501 $ (12,453 ) $ 12,048 $ 24,539 $ (11,651 ) $ 12,888

Employee Postretirement Benefit

Employee Postretirement Benefits	6 Months Ended
	Jul. 31, 2017
Retirement Benefits [Abstract]
Employee Postretirement Benefits	EMPLOYEE POSTRETIREMENT BENEFITS The Company provides postretirement medical and other benefits to certain current and past senior executive officers and senior managers. These plan obligations are unfunded. The components of the net periodic benefit cost for postretirement benefits are as follows: Three Months Ended Six Months Ended July 31, July 31, July 31, July 31, Service cost $ 21 $ 20 $ 43 $ 40 Interest cost 82 83 164 166 Amortization of actuarial losses 30 37 60 74 Amortization of unrecognized gains in prior service cost (40 ) (40 ) (80 ) (80 ) Net periodic benefit cost $ 93 $ 100 $ 187 $ 200

Warranties

Warranties	6 Months Ended
	Jul. 31, 2017
Product Warranties Disclosures [Abstract]
Warranties	WARRANTIES Accruals necessary for product warranties are estimated based on historical warranty costs and average time elapsed between purchases and returns for each division. Additional accruals are made for any significant, discrete warranty issues. Changes in the warranty accrual were as follows: Three Months Ended Six Months Ended July 31, July 31, July 31, July 31, Beginning balance $ 2,405 $ 2,316 $ 1,547 $ 1,835 Accrual for warranties 401 262 1,778 1,086 Settlements made (541 ) (502 ) (1,060 ) (845 ) Ending balance $ 2,265 $ 2,076 $ 2,265 $ 2,076

Financing Arrangements Financin

Financing Arrangements Financing Arrangements	6 Months Ended
	Jul. 31, 2017
Debt Disclosure [Abstract]
Financing Arrangements	FINANCING ARRANGEMENTS The Company entered into a credit facility on April 15, 2015 with JPMorgan Chase Bank, N.A., Toronto Branch as Canadian Administrative Agent, JPMorgan Chase Bank, National Association, as administrative agent, and each lender from time to time party thereto (the Credit Agreement). The Credit Agreement provides for a syndicated senior revolving credit facility up to $125,000 with a maturity date of April 15, 2020 . Simultaneous with execution of the Credit Agreement, Raven, and its subsidiaries entered into a guaranty agreement in favor of JPMorgan Chase Bank National Association in its capacity as administrator under the Credit Agreement for the benefit of JPMorgan Chase Bank N.A., Toronto Branch and the lenders and their affiliates under the Credit Agreement. Unamortized debt issuance costs associated with this Credit Agreement were $297 , $352 and $407 at July 31, 2017 , January 31, 2017 , and July 31, 2016 , respectively and are included in "Other assets" in the Consolidated Balance Sheets. Loans or borrowings defined under the Credit Agreement bear interest and fees at varying rates and terms defined in the Credit Agreement based on the type of borrowing as defined. The Credit Agreement includes annual administrative and unborrowed capacity fees. The Credit Agreement also contains customary affirmative and negative covenants, including those relating to financial reporting and notification, limits on levels of indebtedness and liens, investments, mergers and acquisitions, affiliate transactions, sales of assets, restrictive agreements, and change in control as defined in the Credit Agreement. The Company requested and received the necessary covenant waivers relating to its late filing of financial information in fiscal 2017. Financial covenants include an interest coverage ratio and funded indebtedness to earnings before interest, taxes, depreciation, and amortization as defined in the Credit Agreement. The loan proceeds may be utilized by Raven for strategic business purposes and for working capital needs. Letters of credit (LOCs) totaling $514 issued under the Credit Agreement or the Company's previous line of credit with Wells Fargo were outstanding at July 31, 2017 , January 31, 2017 , and July 31, 2016 . These LOCs primarily support self-insured workers' compensation bonding. Any draws required under the LOCs would be settled with available cash or borrowings under the Credit Agreement. There were no borrowings under the Credit Agreement for any of the fiscal periods covered by this Quarterly Report on Form 10-Q. Availability under the Credit Agreement for borrowings as of July 31, 2017 was $124,536

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies Disclosure	6 Months Ended
	Jul. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	COMMITMENTS AND CONTINGENCIES The Company is involved as a party in lawsuits, claims, regulatory inquiries, or disputes arising in the normal course of its business, the potential costs and liability of which cannot be determined at this time. Among these matters is a patent infringement lawsuit filed in federal district court in Kansas, in which Capstan Ag Systems, Inc. has made certain infringement claims against the Company and one of its customers, CNH Industrial America LLC, related to the Applied Technology Division’s Hawkeye TM nozzle control system. Management does not believe the ultimate outcomes of its legal proceedings are likely to be significant to its results of operations, financial position, or cash flows. Additionally, because of the present status of the lawsuit, management cannot determine the potential impact, if any, of the patent infringement lawsuit described above. The Company has insurance policies that provide coverage to various degrees for potential liabilities arising from legal proceedings.

Income Tax Income Tax Disclosur

Income Tax Income Tax Disclosure	6 Months Ended
	Jul. 31, 2017
Income Tax Disclosure [Abstract]
Income Tax Disclosure	INCOME TAXES The Company’s effective tax rate varies from the federal statutory rate primarily due to state and local taxes, research and development tax credit, tax benefits on qualified production activities, and tax-exempt insurance premiums. The Company’s effective tax rates for the three- and six-month periods ended July 31, 2017 were 29.2% and 30.5% , respectively. The decrease in the effective tax rate in the second quarter of fiscal 2018 compared to the year-to-date fiscal 2018 effective tax rate is primarily due to the recognition of discrete tax expense related to the Company's adoption of ASU 2016-09 in the fiscal 2018 first quarter as further discussed in Note 2 Summary of Significant Accounting Policies . This ASU requires that the tax effects resulting from the settlement of stock-based awards be recognized as a discrete income tax expense or benefit in the income statement in the reporting period in which they occur. The Company’s effective tax rates for the three- and six-month periods ended July 31, 2016 were 30.7% and 30.7%

Dividends and Treasury Stock

Dividends and Treasury Stock	6 Months Ended
	Jul. 31, 2017
Stockholders' Equity Note [Abstract]
Dividends and Treasury Stock	DIVIDENDS AND TREASURY STOCK Dividends paid to Raven shareholders for the three - and six-month periods ended July 31, 2017 were $4,693 and $9,384 , or 13.0 cents and 26.0 cents per share, respectively. Dividends paid to Raven shareholders for the three - and six-month periods ended July 31, 2016 were $4,687 and $9,388 , or 13.0 cents and 26.0 cents per share, respectively. There were no declared and unpaid shareholder dividends at July 31, 2017 or 2016. Effective March 21, 2016 the Board of Directors (Board) authorized an extension and increase of the authorized $40,000 stock buyback program in place at that time. An additional $10,000 was authorized for share repurchases once the $40,000 authorization limit is reached. The Company did not repurchase any shares in the three- and six-month periods ended July 31, 2017 . The Company repurchased 102,187 and 484,252 shares in the three- and six-month periods ended July 31, 2016 , respectively. These purchases totaled $2,000 and $7,702 , respectively. All such share repurchases were paid at July 31, 2016 . The remaining dollar value authorized for share repurchases at July 31, 2017 is $12,959

Share Based Compensation

Share Based Compensation	6 Months Ended
	Jul. 31, 2017
Share-based Compensation [Abstract]
Share Based Compensation	SHARE-BASED COMPENSATION The Company reserves shares for issuance pursuant to the Amended and Restated 2010 Stock Incentive Plan effective March 23, 2012, administered by the Personnel and Compensation Committee of the Board of Directors. Two types of awards, stock options and restricted stock units, were granted during the six months ended July 31, 2017 and July 31, 2016 . Stock Option Awards The Company granted 85,800 non-qualified stock options during the six-month period ended July 31, 2017 . The Company granted 274,200 non-qualified stock options during the six-month period ended July 31, 2016 . None of these options were granted in the three -month periods ended July 31, 2017 and July 31, 2016 , respectively. Options are granted with exercise prices based upon the closing market price of the Company's common stock on the day prior to the date of grant. The stock options vest over a four-year period and expire after five years . Options contain retirement and change-in-control provisions, as well as termination without cause provisions for certain executive officers, which may accelerate the vesting period. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model. The Company uses historical data to estimate option exercises and employee terminations within this valuation model. The weighted average assumptions used for the Black-Scholes option pricing model by grant year are as follows: Six Months Ended July 31, 2017 July 31, 2016 Risk-free interest rate 1.68 % 1.05 % Expected dividend yield 1.78 % 3.33 % Expected volatility factor 33.87 % 32.61 % Expected option term (in years) 4.25 4.00 Weighted average grant date fair value $7.35 $3.05 Restricted Stock Unit Awards (RSUs) The Company granted 2,495 and 55,820 time-vested RSUs to employees in the three - and six-month periods ended July 31, 2017 , respectively. The Company granted 66,370 time-vested RSUs to employees in the six-month period ended July 31, 2016 . None of these awards were granted in the three -month period July 31, 2016 . The grant date fair value of a time-vested RSU is measured based upon the closing market price of the Company's common stock on the day prior to the date of grant. The weighted average grant date fair value per share of the time-vested RSUs granted in the periods ended July 31, 2017 and 2016, respectively, was $ 29.33 and $ 15.61 . Time-vested RSUs will vest if, at the end of the three-year period, the employee remains employed by the Company. RSUs contain retirement and change-in-control provisions, as well as termination without cause provisions for certain executive officers, which may accelerate the vesting period. Dividends are cumulatively earned on the time-vested RSUs over the vesting period. The Company also granted performance-based RSUs in the six-month periods ended July 31, 2017 and 2016, respectively. The exact number of performance shares to be issued will vary from 0% to 150% of the target award, depending on the Company's actual performance over the three-year period in comparison to the target award. The target award for the fiscal 2017 and 2016 grants are based on return on equity (ROE), which is defined as net income divided by the average of beginning and ending shareholders' equity. The performance-based RSUs will vest if, at the end of the three-year performance period, the Company has achieved certain performance goals and the employee remains employed by the Company. RSUs contain retirement and change- in-control provisions, as well as termination without cause provisions for certain executive officers, which may accelerate the vesting period. Dividends are cumulatively earned on performance-based RSUs over the vesting period. The number of RSUs that will vest is determined by an estimated ROE target over the three-year performance period. The estimated ROE performance factors used to estimate the number of restricted stock units expected to vest are evaluated at least quarterly. The number of restricted stock units issued at the vesting date will be based on actual results. The fair value of the performance-based restricted stock units is based upon the closing market price of the Company's common stock on the day prior to the grant date. The number of performance-based RSUs granted is based on 100% of the target award. During the six -month periods ended July 31, 2017 and 2016 , the Company granted 22,745 and 72,950 performance-based RSUs, respectively. None of these awards were granted in the three-month periods ended July 31, 2017 and 2016 . The weighted average grant date fair value per share of these performance-based RSUs granted in the periods ended July 31, 2017 and 2016 , respectively, was $29.20 and $15.61

Segment Reporting

Segment Reporting	6 Months Ended
	Jul. 31, 2017
Segment Reporting [Abstract]
Segment Reporting	SEGMENT REPORTING The Company's reportable segments are defined by their product lines which have been grouped in these segments based on technology, manufacturing processes, and end-use application. Raven's reportable segments are Applied Technology, Engineered Films, and Aerostar. The Company measures the performance of its segments based on their operating income excluding general and administrative expenses. Other expense and income taxes are not allocated to individual operating segments, and assets not identifiable to an individual segment are included as corporate assets. Separate financial information is available and regularly evaluated by the Company's chief operating decision-maker (CODM), the President and Chief Executive Officer, in making resource allocation decisions for the Company's reportable segments. Segment information is reported consistent with the Company's management reporting structure. Business segment net sales and operating income results are as follows: Three Months Ended Six Months Ended July 31, July 31, July 31, July 31, Net sales Applied Technology $ 28,424 $ 22,668 $ 68,914 $ 54,124 Engineered Films 49,028 36,656 92,583 65,756 Aerostar 9,369 8,415 18,975 16,310 Intersegment eliminations (a) (211 ) (141 ) (327 ) (232 ) Consolidated net sales $ 86,610 $ 67,598 $ 180,145 $ 135,958 Operating income (loss) (b) Applied Technology $ 6,637 $ 5,172 $ 20,090 $ 13,865 Engineered Films 9,551 6,659 18,271 10,537 Aerostar 1,388 (251 ) 2,806 (429 ) Intersegment eliminations 11 — 9 (5 ) Total reportable segment income 17,587 11,580 41,176 23,968 General and administrative expenses (c) (5,887 ) (4,884 ) (11,257 ) (9,222 ) Consolidated operating income $ 11,700 $ 6,696 $ 29,919 $ 14,746 (a) Intersegment sales for both fiscal 2018 and 2017 were primarily sales from Engineered Films to Aerostar. (b) At the segment level, operating income (loss) does not include an allocation of general and administrative expenses. (c)

Subsequent Events (Notes)

Subsequent Events (Notes)	6 Months Ended
	Jul. 31, 2017
Subsequent Event [Line Items]
Subsequent Events [Text Block]	SUBSEQUENT EVENTS The Company has evaluated events up to the filing date of this Quarterly Report on Form 10-Q and concluded that no subsequent events have occurred that would require recognition or disclosure in the Notes to the Consolidated Financial Statements other than the following. On August 22, 2017 the Company entered into an asset purchase agreement (the “Agreement”) with Colorado Lining International, Inc. , a Colorado corporation, headquartered in Parker, CO (“CLI”). The cash transaction is expected to close in September 2017 with Raven paying approximately $14,000 and the potential for up to $2,000 in additional earn-out payments over the next three years

Summary of Significant Accoun25

Summary of Significant Accounting Policies New Accounting Standards (Policies) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
New Accounting Standards [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]			Accounting Standards Adopted In the fiscal 2018 first quarter, the Company early adopted Accounting Standards Update (ASU) No. 2017-04 (issued by the Financial Accounting Standards Board (FASB) in January 2017), "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment" (ASU 2017-04) on a prospective basis . This ASU removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Under the new guidance, a goodwill impairment will be measured as the amount by which a reporting unit’s carrying value exceeds its fair value. The amount of any impairment may not exceed the carrying amount of goodwill. The amendments should be applied on a prospective basis. As discussed in Note 6 Goodwill, Long-lived Assets, and Other Intangibles , management performed an assessment in the fiscal 2018 first and second quarters and determined no triggering events had occurred for any of its three reporting units; therefore, the early adoption of this guidance did not have any impact on the consolidated financial statements or the results of operations as of and for the three- or six-month periods ended July 31, 2017. In the fiscal 2018 first quarter when it became effective, the Company adopted FASB ASU 2016-09 (issued in March 2016), "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" (ASU 2016-09). ASU 2016-09 amends the accounting for employee share-based payment transactions to require recognition of the tax effects resulting from the settlement of stock-based awards as discrete income tax expense or benefit in the income statement in the reporting period in which they occur. This guidance also requires that all tax-related cash flows resulting from share-based awards be disclosed as operating cash flows in the statement of cash flows and that cash paid to taxing authorities on the behalf of employees for withheld shares be classified as a financing activity in the statement of cash flows. Finally, this ASU allows companies to make an accounting policy election to either estimate the number of awards that are expected to vest, consistent with current GAAP, or account for forfeitures when they occur. The Company accounts for forfeitures as they occur. The Company is prospectively recognizing excess tax benefits or deficits on vesting or settlement of awards, when they occur, as a discrete income tax benefit or expense instead of as additional paid-in capital as required under previous guidance. This change to the Company's accounting policies resulted in recognition of income tax expense of $90 and $569 for the three- and six-month periods ended July 31, 2017. These tax-related cash flows are now classified within operating activities. The Company classifies tax payments made to taxing authorities on the employee's behalf for withheld shares as a financing activity on the statement of cash flows, as such the adoption of this guidance had no impact. Under the new guidance, excess tax benefits are no longer included in assumed proceeds under the treasury stock method of calculating earnings per share. The increase in incremental shares used in the weighted average diluted shares calculation was not material to the Company's diluted earnings per share calculation. In the fiscal 2018 first quarter when it became effective, the Company adopted the FASB ASU No. 2015-11 (issued in July 2015), "Inventory (Topic 330) Simplifying the Measurement of Inventory" (ASU 2015-11) on a prospective basis. The amendments in ASU 2015-11 clarify that an entity should measure inventory within the scope of this update at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Substantial and unusual losses that result from subsequent measurement of inventory should be disclosed in the financial statements. Previously the Company reported its inventory at the lower of cost or market. Market was defined as replacement cost with a ceiling of net realizable value and a floor of net realizable value less a normal profit margin. The Company evaluates its inventory in all three reporting segments quarterly to determine if cost exceeds net realizable value and records a write-down, if necessary. The adoption of this guidance did not have any impact on the consolidated financial statements or the results of operations as of and for the three- and six-month period ended July 31, 2017.
Description of New Accounting Pronouncements Not yet Adopted [Text Block]			New Accounting Standards Not Yet Adopted In May 2017, the FASB issued ASU No. 2017-09, "Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting" (ASU 2017-09). The guidance amends the scope of modification accounting for share-based payment arrangements. The ASU provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under Topic 718. Specifically, an entity would not apply modification accounting if the fair value, vesting conditions, and classification of the awards as equity instruments or a liability instruments are the same immediately before and after the modification to the award. The guidance is effective for annual periods, including interim periods, in fiscal years beginning after December 15, 2017. Early adoption is permitted and the amendments should be applied prospectively to an award modified on or after the adoption date. The Company currently has no plans to modify any of its outstanding awards. The Company will consider early adopting this guidance if modifications to its share-based compensation arrangements are likely to occur. The Company does not expect the adoption of this guidance will have a significant impact on its consolidated financial statements, results of operations, and disclosures. In March 2017, the FASB issued ASU No. 2017-07, "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Postretirement Benefit Cost" (ASU 2017-07). The guidance clarifies where the cost components of the net benefit cost should be reported in the income statement and it allows only the service cost to be capitalized. Currently the Company reports all of the components of the net benefit cost in "Operating income" in the Consolidated Statement of Income and Comprehensive Income. The net benefit cost for participants that are active employees is reported in the same manner as each participant's compensation cost is classified in the Consolidated Statement of Income and Comprehensive Income. The net benefit cost attributable to retired (inactive) participants is reported in "Selling, general, and administrative expenses" in the Consolidated Statement of Income and Comprehensive Income. Under the new guidance only the service cost component of the net benefit cost will be classified the same as the participant's compensation cost. The other components of the net benefit cost are required to be reported separately as a non-operating income (expense). The guidance is effective for annual periods, including interim periods, in fiscal years beginning after December 15, 2017. Early adoption is permitted and the amendments should be applied retrospectively. The Company does not expect this guidance will have a significant impact on its consolidated financial statements, results of operations and disclosures since it primarily will only change how the net benefit cost is classified in the Company's Consolidated Statements of Income and Comprehensive Income. In February 2016 the FASB issued ASU No. 2016-02, "Leases (Topic 842)" (ASU 2016-02). The primary difference between previous GAAP and ASU 2016-02 is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. The guidance requires a lessee to recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. When measuring assets and liabilities arising from a lease, a lessee (and a lessor) should include payments to be made in optional periods only if the lessee is reasonably certain to exercise an option to extend the lease or not to exercise an option to terminate the lease. Similarly, optional payments to purchase the underlying asset should be included in the measurement of lease assets and lease liabilities only if the lessee is reasonably certain to exercise that purchase option. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018. Lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that entities may elect to apply. An entity that elects to apply the practical expedients will, in effect, continue to account for leases that commence before the effective date in accordance with previous GAAP unless the lease is modified, except that lessees are required to recognize a right-of-use asset and a lease liability for all operating leases at each reporting date based on the present value of the remaining minimum rental payments that were tracked and disclosed under previous GAAP. The Company is evaluating the impact the adoption of this guidance will have on its consolidated financial statements, results of operations, and disclosures.
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income	$ 90	$ 0	$ 569	$ 0

Net Income per Share (Tables)

Net Income per Share (Tables)	6 Months Ended
	Jul. 31, 2017
Earnings Per Share [Abstract]
Schedule of antidilutive securities excluded from computation of earnings per share	The options and restricted stock units excluded from the diluted net income per-share share calculation were as follows: Three Months Ended Six Months Ended July 31, July 31, July 31, July 31, Anti-dilutive options and restricted stock units 209,400 924,204 409,136 1,102,952
Schedule of calculation of numerator and denominator in earnings per share	The computation of earnings per share is presented below: Three Months Ended Six Months Ended July 31, July 31, July 31, July 31, Numerator: Net income attributable to Raven Industries, Inc. $ 8,235 $ 4,495 $ 20,583 $ 10,012 Denominator: Weighted average common shares outstanding 36,096,048 36,097,228 36,088,095 36,208,573 Weighted average fully vested stock units outstanding 109,146 110,083 103,966 102,035 Denominator for basic calculation 36,205,194 36,207,311 36,192,061 36,310,608 Weighted average common shares outstanding 36,096,048 36,097,228 36,088,095 36,208,573 Weighted average fully vested stock units outstanding 109,146 110,083 103,966 102,035 Dilutive impact of stock options and restricted stock units 348,795 43,001 322,661 51,547 Denominator for diluted calculation 36,553,989 36,250,312 36,514,722 36,362,155 Net income per share - basic $ 0.23 $ 0.12 $ 0.57 $ 0.28 Net income per share - diluted $ 0.23 $ 0.12 $ 0.56 $ 0.28

Selected Balance Sheet Inform27

Selected Balance Sheet Information (Tables)	6 Months Ended
	Jul. 31, 2017
Selected Balance Sheet Information [Abstract]
Components of selected balance sheet items	Following are the components of selected items from the Consolidated Balance Sheets: July 31, 2017 January 31, 2017 July 31, 2016 Accounts receivable, net: Trade accounts $ 47,350 $ 43,834 $ 39,203 Allowance for doubtful accounts (952 ) (691 ) (558 ) $ 46,398 $ 43,143 $ 38,645 Inventories: Finished goods $ 5,878 $ 5,438 $ 4,784 In process 1,510 2,288 1,929 Materials 43,456 34,610 38,789 $ 50,844 $ 42,336 $ 45,502 Other current assets: Insurance policy benefit $ 734 $ 802 $ 762 Income tax receivable 409 604 1,652 Receivable from sale of business 35 28 103 Prepaid expenses and other 2,492 1,255 2,441 $ 3,670 $ 2,689 $ 4,958 Property, plant and equipment, net: Land $ 3,234 $ 3,054 $ 3,054 Buildings and improvements 79,648 77,817 78,310 Machinery and equipment 145,516 142,471 142,185 Accumulated depreciation (122,675 ) (117,018 ) (112,843 ) $ 105,723 $ 106,324 $ 110,706 Other assets: Equity method investments $ 2,057 $ 2,371 $ 2,611 Deferred income taxes 16 18 38 Other 1,222 1,283 1,134 $ 3,295 $ 3,672 $ 3,783 Accrued liabilities: Salaries and related $ 5,138 $ 6,286 $ 3,628 Benefits 3,868 3,960 3,632 Insurance obligations 2,492 2,400 1,975 Warranties 2,265 1,547 2,076 Income taxes 1,287 498 213 Other taxes 1,503 1,540 1,357 Acquisition-related contingent consideration 478 445 381 Other 1,693 1,379 823 $ 18,724 $ 18,055 $ 14,085 Other liabilities: Postretirement benefits $ 8,085 $ 8,054 $ 7,706 Acquisition-related contingent consideration 1,182 1,397 1,565 Deferred income taxes 488 1,421 1,557 Uncertain tax positions 2,593 2,610 2,999 Other — 214 — $ 12,348 $ 13,696 $ 13,827

Assets Held for Sale Assets Hel

Assets Held for Sale Assets Held for Sale (Tables)	6 Months Ended
	Jul. 31, 2017
Assets Held for Sale Disclosure [Abstract]
Disclosure of Long Lived Assets Held-for-sale [Table Text Block]	Amounts classified as held for sale were as follows: July 31, 2017 Assets held for sale Inventories $ 3,212 Other current assets 18 Total current assets held for sale 3,230 Property, plant and equipment, net 238 Goodwill 102 Amortizable intangible assets, net 387 Other assets 17 Total assets held for sale $ 3,974 Liabilities held for sale Current liabilities $ 292 Other long-term liabilities 125 Total liabilities held for sale $ 417

Goodwill, Long-lived Assets a29

Goodwill, Long-lived Assets and Other Intangibles (Tables)	6 Months Ended
	Jul. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill [Table Text Block]	The changes in the carrying amount of goodwill by reporting unit were as follows: Applied Technology Engineered Films Aerostar Total Balance at January 31, 2017 $ 12,342 $ 27,518 $ 789 $ 40,649 Divestiture of business — — (52 ) (52 ) Foreign currency translation adjustment 244 — — 244 Balance at July 31, 2017 $ 12,586 $ 27,518 $ 737 $ 40,841 Balance at January 31, 2016 $ 12,365 $ 27,518 $ 789 $ 40,672 Foreign currency translation adjustment 80 — — 80 Balance at July 31, 2016 $ 12,445 $ 27,518 $ 789 $ 40,752
Schedule of Finite-Lived Intangible Assets [Table Text Block]	The following table provides the gross carrying amount and related accumulated amortization of definite-lived intangible assets: July 31, 2017 January 31, 2017 July 31, 2016 Accumulated Accumulated Accumulated Amount amortization Net Amount amortization Net Amount amortization Net Existing technology $ 7,230 $ (6,775 ) $ 455 $ 7,136 $ (6,553 ) $ 583 $ 7,175 $ (6,423 ) $ 752 Customer relationships 12,787 (4,206 ) 8,581 12,987 (3,680 ) 9,307 13,012 (3,160 ) 9,852 Patents and other intangibles 4,530 (2,338 ) 2,192 4,378 (2,220 ) 2,158 4,352 (2,068 ) 2,284 Total $ 24,547 $ (13,319 ) $ 11,228 $ 24,501 $ (12,453 ) $ 12,048 $ 24,539 $ (11,651 ) $ 12,888

Employee Postretirement Benef30

Employee Postretirement Benefits Employee Postretirement Benefits (Tables)	6 Months Ended
	Jul. 31, 2017
Retirement Benefits [Abstract]
Components of net periodic benefit cost for postretirement plan	The components of the net periodic benefit cost for postretirement benefits are as follows: Three Months Ended Six Months Ended July 31, July 31, July 31, July 31, Service cost $ 21 $ 20 $ 43 $ 40 Interest cost 82 83 164 166 Amortization of actuarial losses 30 37 60 74 Amortization of unrecognized gains in prior service cost (40 ) (40 ) (80 ) (80 ) Net periodic benefit cost $ 93 $ 100 $ 187 $ 200

Warranties (Tables)

Warranties (Tables)	6 Months Ended
	Jul. 31, 2017
Product Warranties Disclosures [Abstract]
Warranties	Changes in the warranty accrual were as follows: Three Months Ended Six Months Ended July 31, July 31, July 31, July 31, Beginning balance $ 2,405 $ 2,316 $ 1,547 $ 1,835 Accrual for warranties 401 262 1,778 1,086 Settlements made (541 ) (502 ) (1,060 ) (845 ) Ending balance $ 2,265 $ 2,076 $ 2,265 $ 2,076

Share Based Compensation (Table

Share Based Compensation (Tables)	6 Months Ended
	Jul. 31, 2017
Share-based Compensation [Abstract]
Weighted average assumptions by grant year	The weighted average assumptions used for the Black-Scholes option pricing model by grant year are as follows: Six Months Ended July 31, 2017 July 31, 2016 Risk-free interest rate 1.68 % 1.05 % Expected dividend yield 1.78 % 3.33 % Expected volatility factor 33.87 % 32.61 % Expected option term (in years) 4.25 4.00 Weighted average grant date fair value $7.35 $3.05

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jul. 31, 2017
Segment Reporting [Abstract]
Business segment net sales and operating income results	Business segment net sales and operating income results are as follows: Three Months Ended Six Months Ended July 31, July 31, July 31, July 31, Net sales Applied Technology $ 28,424 $ 22,668 $ 68,914 $ 54,124 Engineered Films 49,028 36,656 92,583 65,756 Aerostar 9,369 8,415 18,975 16,310 Intersegment eliminations (a) (211 ) (141 ) (327 ) (232 ) Consolidated net sales $ 86,610 $ 67,598 $ 180,145 $ 135,958 Operating income (loss) (b) Applied Technology $ 6,637 $ 5,172 $ 20,090 $ 13,865 Engineered Films 9,551 6,659 18,271 10,537 Aerostar 1,388 (251 ) 2,806 (429 ) Intersegment eliminations 11 — 9 (5 ) Total reportable segment income 17,587 11,580 41,176 23,968 General and administrative expenses (c) (5,887 ) (4,884 ) (11,257 ) (9,222 ) Consolidated operating income $ 11,700 $ 6,696 $ 29,919 $ 14,746 (a) Intersegment sales for both fiscal 2018 and 2017 were primarily sales from Engineered Films to Aerostar. (b) At the segment level, operating income (loss) does not include an allocation of general and administrative expenses. (c)

Basis of Presentation and Pri34

Basis of Presentation and Principles of Consolidation (Details)	6 Months Ended
	Jul. 31, 2017segment
Organization, Consolidation and Presentation of Financial Statements Line Items [Line Items]
Number of operating units	3
Aerostar Integrated Systems [Member]
Organization, Consolidation and Presentation of Financial Statements Line Items [Line Items]
Joint venture, ownership percentage	75.00%

Net Income per Share (Antidilut

Net Income per Share (Antidiluted Securities Excluded from Computation) (Details) - shares	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, amount (in options and restricted units)	209,400	924,204	409,136	1,102,952

Net Income per Share (Schedule

Net Income per Share (Schedule of Calculation of Numerator and Denominator in Earnings per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Numerator:
Net income attributable to Raven Industries, Inc.	$ 8,235	$ 4,495	$ 20,583	$ 10,012
Denominator:
Weighted average common shares outstanding (in shares)	36,096,048	36,097,228	36,088,095	36,208,573
Weighted average fully vested stock units outstanding (in shares)	109,146	110,083	103,966	102,035
Denominator for basic calculation (in shares)	36,205,194	36,207,311	36,192,061	36,310,608
Weighted average common shares outstanding (in shares)	36,096,048	36,097,228	36,088,095	36,208,573
Weighted average fully vested stock units outstanding (in shares)	109,146	110,083	103,966	102,035
Dilutive impact of stock options and restricted units (in shares)	348,795	43,001	322,661	51,547
Denominator for diluted calculation (in shares)	36,553,989	36,250,312	36,514,722	36,362,155
Net income per share - basic (in dollars per share)	$ 0.23	$ 0.12	$ 0.57	$ 0.28
Net income per share - diluted (in dollars per share)	$ 0.23	$ 0.12	$ 0.56	$ 0.28

Selected Balance Sheet Inform37

Selected Balance Sheet Information (Details) - USD ($) $ in Thousands	Jul. 31, 2017	Apr. 30, 2017	Jan. 31, 2017	Jul. 31, 2016	Apr. 30, 2016	Jan. 31, 2016
Accounts receivable, net:
Trade accounts	$ 47,350		$ 43,834	$ 39,203
Allowance for doubtful accounts	(952)		(691)	(558)
Accounts receivable, net	46,398		43,143	38,645
Inventories:
Finished goods	5,878		5,438	4,784
In process	1,510		2,288	1,929
Materials	43,456		34,610	38,789
Inventories	50,844		42,336	45,502
Other current assets:
Insurance policy benefit	734		802	762
Income tax receivable	409		604	1,652
Receivable from sale of business	35		28	103
Prepaid Expense and other	2,492		1,255	2,441
Other current assets	3,670		2,689	4,958
Property, plant and equipment, net:
Property, plant and equipment, net	105,723		106,324	110,706
Other Assets (Noncurrent):
Equity investments	2,057		2,371	2,611
Deferred Tax Assets, Net, Noncurrent	16		18	38
Other	1,222		1,283	1,134
Other assets	3,295		3,672	3,783
Accrued liabilities:
Salaries and related	5,138		6,286	3,628
Benefits	3,868		3,960	3,632
Insurance obligations	2,492		2,400	1,975
Warranties	2,265	$ 2,405	1,547	2,076	$ 2,316	$ 1,835
Income Taxes	1,287		498	213
Other taxes	1,503		1,540	1,357
Acquisition-related contingent consideration liability, Current	478		445	381
Other	1,693		1,379	823
Accrued liabilities	18,724		18,055	14,085
Other liabilities:
Postretirement benefits	8,085		8,054	7,706
Acquisition-related contingent consideration liability, Noncurrent	1,182		1,397	1,565
Deferred income taxes	488		1,421	1,557
Uncertain tax positions	2,593		2,610	2,999
Liabilities, Noncurrent	0		214	0
Other liabilities	12,348		13,696	13,827
Land [Member]
Property, plant and equipment, net:
Property, plant and equipment	3,234		3,054	3,054
Building and Building Improvements [Member]
Property, plant and equipment, net:
Property, plant and equipment	79,648		77,817	78,310
Machinery and Equipment [Member]
Property, plant and equipment, net:
Property, plant and equipment	145,516		142,471	142,185
Assets held for use [Member]
Property, plant and equipment, net:
Accumulated depreciation	(122,675)		(117,018)	(112,843)
Property, plant and equipment, net	$ 105,723		$ 106,324	$ 110,706

Assets Held for Sale Assets H38

Assets Held for Sale Assets Held for Sale (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Long Lived Assets Held-for-sale [Line Items]
Long-lived asset impairment loss	$ 0	$ 0	$ 259	$ 0
Inventories	50,844	45,502	50,844	45,502	$ 42,336
Other current assets	3,670	4,958	3,670	4,958	2,689
Total current assets	156,109	129,228	156,109	129,228	138,816
Property, plant and equipment, net	105,723	110,706	105,723	110,706	106,324
Goodwill	40,841	40,752	40,841	40,752	40,649	$ 40,672
Amortizable intangible assets, net	11,228	12,888	11,228	12,888	12,048
Other assets	3,295	3,783	3,295	3,783	3,672
TOTAL ASSETS	317,196	297,357	317,196	297,357	301,509
Current liabilities	31,777	25,074	31,777	25,074	28,382
Other long-term liabilities	12,348	13,827	12,348	13,827	13,696
Aerostar [Member]
Long Lived Assets Held-for-sale [Line Items]
Goodwill	737	789	737	789	$ 789	$ 789
Aerostar [Member] | Client private and radar product assets [Member]
Long Lived Assets Held-for-sale [Line Items]
Inventories	3,212		3,212
Other current assets	18		18
Total current assets	3,230		3,230
Property, plant and equipment, net	238		238
Goodwill	102		102
Amortizable intangible assets, net	387		387
Other assets	17		17
TOTAL ASSETS	3,974		3,974
Current liabilities	292		292
Other long-term liabilities	125		125
Total liabilities held for sale	417		417
Operating Income (Loss) [Member] | Aerostar [Member] | Client private and radar product assets [Member]
Long Lived Assets Held-for-sale [Line Items]
Long-lived asset impairment loss	$ 0	$ 0	$ 0	$ 0

Acquisitions of and Investmen39

Acquisitions of and Investments in Businesses and Technologies Business Combinations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016	Jan. 31, 2017
Business Combination, Contingent Consideration Arrangements [Abstract]
Acquisition-related contingent consideration liability, Current	$ 478	$ 381	$ 478	$ 381	$ 445
Acquisition-related contingent consideration liability, Noncurrent	1,182	1,565	1,182	1,565	1,397
Payments of acquisition-related contingent liability			$ (320)	(282)
SBG Innovatie [Member]
Business Combination, Description [Abstract]
Business Acquisition, Name of Acquired Entity			SBG Innovatie BV
Navtronics [Member]
Business Combination, Description [Abstract]
Business Acquisition, Name of Acquired Entity			Navtronics BVBA
SBG Innovatie and Affiliates [Member]
Business Combination, Description [Abstract]
Business Acquisition, Date of Acquisition Agreement			May 1, 2014
Contingent consideration, potential cash payment	2,500		$ 2,500
Contingent Consideration Term in Years			10 years
Business Combination, Contingent Consideration Arrangements [Abstract]
Acquisition-related contingent consideration, total liability	1,285	1,397	$ 1,285	1,397	1,409
Acquisition-related contingent consideration liability, Current	228	228	228	228	247
Acquisition-related contingent consideration liability, Noncurrent	1,057	1,169	1,057	1,169	1,162
Payments of acquisition-related contingent liability	160	143	220	203
Business acquisition contingent consideration cumulative paid			$ 803
Vista Research [Member]
Business Combination, Description [Abstract]
Business Acquisition, Date of Acquisition Agreement			Jan. 6, 2012
Business Acquisition, Name of Acquired Entity			Vista Research, Inc.
Contingent consideration, potential cash payment	15,000		$ 15,000
Contingent Consideration Term in Years			7 years
Business Combination, Contingent Consideration Arrangements [Abstract]
Acquisition-related contingent consideration, total liability	282	504	$ 282	504	332
Acquisition-related contingent consideration liability, Current	157	108	157	108	98
Acquisition-related contingent consideration liability, Noncurrent	125	396	125	396	$ 234
Payments of acquisition-related contingent liability	$ 100			79
Business acquisition contingent consideration cumulative paid			$ 1,572
Applied Technology [Member] | AgEagle Aerial Systems [Member]
Variable Interest Entity Disclosure [Abstract]
Variable Interest Entity, acquisition date equity method investment			2/29/2016
Variable Interest Entity, name of investee equity method investment			AgEagle Aerial Systems, Inc.
Equity Method Investment, Ownership Percentage	5.00%		5.00%
Other Commitment	$ 0	0	$ 0	0
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 0	$ 0	$ 0	$ 0

Goodwill, Long-lived Assets a40

Goodwill, Long-lived Assets and Other Intangibles Goodwill (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 31, 2017USD ($)ReportingUnits	Jul. 31, 2016USD ($)ReportingUnits	Jul. 31, 2017USD ($)ReportingUnits	Jul. 31, 2016USD ($)	Jan. 31, 2016USD ($)ReportingUnits
Goodwill [Line Items]
Number of Reporting Units | ReportingUnits	3	3	3		4
Number of reporting units in Aerostar Segment | ReportingUnits	1	1	1		2
Goodwill impairment loss	$ 0	$ 0	$ 0	$ 0
Goodwill [Roll Forward]
Goodwill Beginning balance			40,649	40,672
Goodwill, Written off Related to Sale of Business Unit			(52)
Goodwill, Foreign Currency Translation Gain (Loss)			244	80
Goodwill Ending balance	40,841	40,752	40,841	40,752	$ 40,672
Applied Technology [Member]
Goodwill [Roll Forward]
Goodwill Beginning balance			12,342	12,365
Goodwill, Written off Related to Sale of Business Unit			0
Goodwill, Foreign Currency Translation Gain (Loss)			244	80
Goodwill Ending balance	12,586	12,445	12,586	12,445	12,365
Engineered Films [Member]
Goodwill [Roll Forward]
Goodwill Beginning balance			27,518	27,518
Goodwill, Written off Related to Sale of Business Unit			0
Goodwill, Foreign Currency Translation Gain (Loss)			0	0
Goodwill Ending balance	27,518	27,518	27,518	27,518	27,518
Aerostar [Member]
Goodwill [Roll Forward]
Goodwill Beginning balance			789	789
Goodwill, Written off Related to Sale of Business Unit			(52)
Goodwill, Foreign Currency Translation Gain (Loss)			0	0
Goodwill Ending balance	$ 737	$ 789	$ 737	$ 789	$ 789

Goodwill, Long-lived Assets a41

Goodwill, Long-lived Assets and Other Intangibles Long-lived Assets and Other Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016	Jan. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Long-lived asset impairment loss	$ 0	$ 0	$ 259	$ 0
Finite-Lived Intangible Assets, Gross	24,547	24,539	24,547	24,539	$ 24,501
Finite-Lived Intangible Assets, Accumulated Amortization	(13,319)	(11,651)	(13,319)	(11,651)	(12,453)
Finite-Lived Intangible Assets, Net	11,228	12,888	11,228	12,888	12,048
Technology-Based Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	7,230	7,175	7,230	7,175	7,136
Finite-Lived Intangible Assets, Accumulated Amortization	(6,775)	(6,423)	(6,775)	(6,423)	(6,553)
Finite-Lived Intangible Assets, Net	455	752	455	752	583
Customer-Related Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	12,787	13,012	12,787	13,012	12,987
Finite-Lived Intangible Assets, Accumulated Amortization	(4,206)	(3,160)	(4,206)	(3,160)	(3,680)
Finite-Lived Intangible Assets, Net	8,581	9,852	8,581	9,852	9,307
Patents and Other Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	4,530	4,352	4,530	4,352	4,378
Finite-Lived Intangible Assets, Accumulated Amortization	(2,338)	(2,068)	(2,338)	(2,068)	(2,220)
Finite-Lived Intangible Assets, Net	2,192	2,284	2,192	2,284	$ 2,158
Other Nonoperating Income (Expense) [Member] | AgEagle Aerial Systems [Member] | Applied Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Equity Method Investment, Other than Temporary Impairment	0	0	72	0
Operating Income (Loss) [Member] | AgEagle Aerial Systems [Member] | Customer-Related Intangible Assets [Member] | Applied Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Long-lived asset impairment loss	$ 0	$ 0	$ 259	$ 0

Employee Postretirement Benef42

Employee Postretirement Benefits Employee Postretirement Benefits (Details) - Other Postretirement Benefit Plans, Defined Benefit [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 21	$ 20	$ 43	$ 40
Interest cost	82	83	164	166
Amortization of actuarial losses	30	37	60	74
Amortization of unrecognized prior service cost (Credit)	(40)	(40)	(80)	(80)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ 93	$ 100	$ 187	$ 200

Warranties (Details)

Warranties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Product Warranty Accrual [Roll Forward]
Beginning balance	$ 2,405	$ 2,316	$ 1,547	$ 1,835
Accrual for warranties	401	262	1,778	1,086
Settlements made	(541)	(502)	(1,060)	(845)
Ending balance	$ 2,265	$ 2,076	$ 2,265	$ 2,076

Financing Arrangements (Details

Financing Arrangements (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jul. 31, 2017	Jan. 31, 2017	Jul. 31, 2016	Apr. 15, 2015
Line of Credit Facility [Line Items]
Letters of credit issued, amount	$ 514	$ 514	$ 514
Debt Instrument, Covenant Compliance		The Company requested and received the necessary covenant waivers relating to its late filing of financial information in fiscal 2017.
JPMorgan Chase Bank [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Initiation Date	Apr. 15, 2015
Borrowing capacity under line of credit				$ 125,000
Maturity date of the line of credit	Apr. 15, 2020
Unamortized Debt Issuance Expense	$ 297	$ 352	407
Borrowing outstanding under line of credit	0	$ 0	$ 0
Remaining borrowing capacity under the line of credit	$ 124,536

Income Tax (Details)

Income Tax (Details)	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, Percent	29.20%	30.70%	30.50%	30.70%

Dividends and Treasury Stock (D

Dividends and Treasury Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016	Mar. 21, 2016	Jan. 31, 2016
Stockholders' Equity Note [Abstract]
Dividends paid	$ 4,693	$ 4,687	$ 9,384	$ 9,388
Cash dividends paid per common share (in dollars per share)	$ 0.13	$ 0.13	$ 0.26	$ 0.26
Dividends Payable	$ 0	$ 0	$ 0	$ 0
Stock Repurchase Program, Authorized Amount	$ 50,000	$ 50,000	$ 50,000	$ 50,000		$ 40,000
Stock repurchase program, additional amount authorized					$ 10,000
Shares repurchased, Treasury Stock	0	102,187	0	484,252
Payments for Repurchase of Common Stock	$ 0	$ 2,000	$ 0	$ 7,702
Unpaid repurchases of common stock		$ 0		$ 0
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 12,959		$ 12,959

Share Based Compensation (Detai

Share Based Compensation (Details) - 2010 Stock Incentive Plan [Member] - $ / shares	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	0	0	85,800	274,200
Stock options vesting period, years			4 years
Years to expiration			5 years
Time-vested RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vesting period, years			3 years
Grants in period (time-vested or performance-based RSUs)	2,495	0	55,820	66,370
Weighted average grant date fair value (in dollars per share)			$ 29.33	$ 15.61
Performance-based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	0
Stock options vesting period, years			3 years
Grants in period (time-vested or performance-based RSUs)		0	22,745	72,950
Weighted average grant date fair value (in dollars per share)			$ 29.20	$ 15.61
Perfromance shares target award			100.00%
Performance-based RSUs [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Perfromance shares target award			0.00%
Performance-based RSUs [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Perfromance shares target award			150.00%

Share Based Compensation (Weigh

Share Based Compensation (Weighted average assumptions by grant year) (Details) - $ / shares	6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
Share-based Compensation [Abstract]
Risk-free interest rate	1.68%	1.05%
Expected dividend yield	1.78%	3.33%
Expected volatility factor	33.87%	32.61%
Expected option term (in years)	4 years 3 months	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 7.35	$ 3.05

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Segment Reporting Information [Line Items]
Net sales		$ 86,610	$ 67,598	$ 180,145	$ 135,958
Operating income		11,700	6,696	29,919	14,746
Administrative and general expenses	[1]	(5,887)	(4,884)	(11,257)	(9,222)
Applied Technology [Member]
Segment Reporting Information [Line Items]
Net sales		28,424	22,668	68,914	54,124
Operating income	[2]	6,637	5,172	20,090	13,865
Engineered Films [Member]
Segment Reporting Information [Line Items]
Net sales		49,028	36,656	92,583	65,756
Operating income	[2]	9,551	6,659	18,271	10,537
Aerostar [Member]
Segment Reporting Information [Line Items]
Net sales		9,369	8,415	18,975	16,310
Operating income	[2]	1,388	(251)	2,806	(429)
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	[3]	(211)	(141)	(327)	(232)
Operating income	[3]	11	0	9	(5)
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Operating income		$ 17,587	$ 11,580	$ 41,176	$ 23,968
[1]	(c) At the segment level, operating income (loss) does not include an allocation of general and administrative expenses and, as a result, "General and administrative expenses" are reported as a deduction from "Total reportable segment income" to reconcile to "Operating income" reported in the Consolidated Statements of Income and Comprehensive Income.
[2]	(b)
[3]	(a)

Subsequent Events Subsequent Ev

Subsequent Events Subsequent Event details (Details) - Engineered Films [Member] - Subsequent Event [Member] $ in Thousands	1 Months Ended
	Aug. 22, 2017USD ($)
Subsequent Event [Line Items]
Subsequent Event, Date	Aug. 22, 2017
Business Acquisition, Name of Acquired Entity	Colorado Lining International, Inc.
Business Combination, Consideration Transferred, Liabilities Incurred	$ 14,000
Maximum [Member]
Subsequent Event [Line Items]
Acquisition-related contingent consideration maximum	$ 2,000
Contingent Consideration Term in Years	3 years