Raven Industries (RAVN) 10-Q 23 May 18 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 30, 2018	May 18, 2018
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	Apr. 30, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		35,885,868

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Apr. 30, 2018	Jan. 31, 2018
Current assets
Cash and cash equivalents	$ 51,317	$ 40,535
Accounts receivable, net	66,812	58,532
Inventories	55,162	55,351
Other current assets	4,483	5,861
Total current assets	177,774	160,279
Property, plant and equipment, net	107,037	106,280
Goodwill	46,529	46,710
Amortizable intangible assets, net	9,815	10,584
Other assets	3,947	2,950
TOTAL ASSETS	345,102	326,803
Current liabilities
Accounts payable	14,714	13,106
Accrued liabilities	20,262	21,946
Other current liabilities	987	1,890
Total current liabilities	35,963	36,942
Other liabilities	16,053	13,795
Commitments and contingencies (see Note 11)	0	0
Shareholders' equity
Common stock, $1 par value, authorized shares 100,000; issued 67,177 and 67,124, respectively	67,177	67,124
Paid-in capital	59,157	59,143
Retained earnings	270,479	252,772
Accumulated other comprehensive income (loss)	(3,339)	(2,573)
Treasury stock at cost, 31,332 and 31,332 shares, respectively	(100,402)	(100,402)
Total Raven Industries, Inc. shareholders' equity	293,072	276,064
Noncontrolling interest	14	2
Total equity	293,086	276,066
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 345,102	$ 326,803

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) (Unaudited) - $ / shares	Apr. 30, 2018	Jan. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	67,177,000	67,124,000
Treasury stock, at cost (in shares)	31,332,000	31,332,000

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Income Statement [Abstract]
Net sales	$ 111,129	$ 93,535
Cost of sales	71,131	61,579
Gross profit	39,998	31,956
Research and development expenses	5,285	3,980
Selling, general, and administrative expenses	13,182	9,498
Long-lived asset impairment loss	0	259
Operating income	21,531	18,219
Other income (expense), net	5,679	(230)
Income before income taxes	27,210	17,989
Income tax expense	5,063	5,641
Net income	22,147	12,348
Net income attributable to the noncontrolling interest	12	0
Net income attributable to Raven Industries, Inc.	$ 22,135	$ 12,348
Net income per common share:
Basic (in dollars per share)	$ 0.62	$ 0.34
Diluted (in dollars per share)	0.61	0.34
Cash dividends paid per common share (in dollars per share)	$ 0.13	$ 0.13
Comprehensive income (loss):
Net income	$ 22,147	$ 12,348
Other comprehensive income (loss):
Foreign currency translation	(480)	12
Postretirement benefits, net of income tax benefit of $2 and $4, respectively	(6)	(6)
Other comprehensive income (loss), net of tax	(486)	6
Comprehensive income	21,661	12,354
Comprehensive income attributable to noncontrolling interest	12	0
Comprehensive income attributable to Raven Industries, Inc.	$ 21,649	$ 12,354

Consolidated Statements of Inc5

Consolidated Statements of Income and Comprehensive Income (Unaudited) (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Income Statement [Abstract]
Other comprehensive income, postretirement benefits, income tax (expense) benefit	$ 2	$ 4

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ 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, 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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	12,348				12,348		12,348	0
Other comprehensive income (loss):
Cumulative foreign currency translation adjustment	12					12	12
Postretirement benefits reclassified from accumulated other comprehensive income (loss) after tax (expense) benefit	(6)					(6)	(6)
Cash dividends	(4,691)		56		(4,747)		(4,691)
Stock issued on stock options exercised, net of shares withheld for employee taxes	11	1	10				11
Shares issued on vesting of stock units, net of shares withheld for employee taxes	(152)	11	(163)				(152)
Share-based compensation	791	0	791				791
Balance at end of period at Apr. 30, 2017	267,744	67,072	56,489	$ (90,402)	238,250	(3,670)	267,739	5
Treasury stock at end of period (in shares) at Apr. 30, 2017				30,984
Balance at beginning of period at Jan. 31, 2018	$ 276,066	67,124	59,143	$ (100,402)	252,772	(2,573)	276,064	2
Treasury stock at beginning of period (in shares) at Jan. 31, 2018	31,332			31,332
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 22,147				22,135		22,135	12
Other comprehensive income (loss):
Cumulative foreign currency translation adjustment	(480)					(480)	(480)
Postretirement benefits reclassified from accumulated other comprehensive income (loss) after tax (expense) benefit	(6)					(6)	(6)
Reclassification due to ASU 2018-02 adoption	0				280	(280)	0
Cash dividends	(4,658)		50		(4,708)		(4,658)
Stock issued on stock options exercised, net of shares withheld for employee taxes	(117)	12	(129)				(117)
Shares issued on vesting of stock units, net of shares withheld for employee taxes	(653)	41	(694)				(653)
Share-based compensation	787	0	787				787
Balance at end of period at Apr. 30, 2018	$ 293,086	$ 67,177	$ 59,157	$ (100,402)	$ 270,479	$ (3,339)	$ 293,072	$ 14
Treasury stock at end of period (in shares) at Apr. 30, 2018	31,332			31,332

Consolidated Statements of Sha7

Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 0.130	$ 0.130
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax	$ 2	$ 4

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
OPERATING ACTIVITIES:
Net income	$ 22,147	$ 12,348
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,683	3,614
Change in fair value of acquisition-related contingent consideration	152	91
Long-lived asset impairment loss	0	259
Loss from equity investment	0	110
Gain from sale of equity method investment	(5,785)	0
Deferred income taxes	(293)	(783)
Share-based compensation expense	787	791
Other operating activities, net	(2,102)	174
Change in operating assets and liabilities:
Accounts receivable	(8,893)	(8,623)
Inventories	134	(7,519)
Other assets	(42)	(1,041)
Operating liabilities	3,815	8,281
Net cash provided by operating activities	13,603	7,702
INVESTING ACTIVITIES:
Capital expenditures	(4,164)	(2,790)
Proceeds from sale or maturity of investments	6,556	0
Purchase of investments	(79)	0
Proceeds from sale of assets	832	14
Other investing activities	40	(60)
Net cash provided by (used in) investing activities	3,185	(2,836)
FINANCING ACTIVITIES:
Dividends paid	(4,658)	(4,691)
Payments of acquisition-related contingent liability	(295)	(161)
Restricted stock units vested and issued	(653)	(152)
Employee stock options exercises	(117)	11
Other financing activities	(52)	0
Net cash used in financing activities	(5,775)	(4,993)
Effect of exchange rate changes on cash	(231)	(44)
Net increase (decrease) in cash and cash equivalents	10,782	(171)
Cash and cash equivalents at beginning of year	40,535	50,648
Cash and cash equivalents at end of period	$ 51,317	$ 50,477

Basis of Presentation and Princ

Basis of Presentation and Principles of Consolidation	3 Months Ended
	Apr. 30, 2018
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 agricultural, aerospace/defense, construction, geomembrane, industrial, and stratospheric balloon 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, 2018 . Financial results for the interim three-month period ended April 30, 2018 are not necessarily indicative of the results that may be expected for the year ending January 31, 2019. The January 31, 2018 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)	3 Months Ended
	Apr. 30, 2018
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, 2018 other than described in the Accounting Standards Adopted section below. Accounting Pronouncements Accounting Standards Adopted In the fiscal 2019 first quarter, the Company early adopted Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income" (ASU 2018-02) issued in February 2018. The amendments in this guidance allow for a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act (TCJA). Consequently, the amendments eliminate the stranded tax effects resulting from the TCJA and are intended to improve the usefulness of information reported. The Company elected to apply the amendments in the period of adoption. The Company recorded a $280 reclassification entry for the stranded tax effects in Accumulated Other Comprehensive Income related to Raven's post-retirement plan further disclosed in the Company's Annual Report in the Form 10-K filed March 23, 2018. The impact of the reclassification is reported as "Reclassification due to ASU 2018-02 adoption" in the Consolidated Statements of Shareholders' Equity. In the fiscal 2019 first quarter when it became effective, the Company adopted FASB ASU No. 2017-09, "Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting" (ASU 2017-09) on a prospective basis. 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 liability instruments are the same immediately before and after the modification to the award. The Company did not modify any of its outstanding awards during the three-month period ended April 30, 2018; therefore, the adoption of this guidance had no impact on its consolidated financial statements, results of operations, or disclosures. In the fiscal 2019 first quarter when it became effective, the Company adopted, the FASB 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. The adoption of this guidance resulted in $7 of the net periodic benefit cost being reported as a charge to operating income and $71 reported as a charge to non-operating income (expense) for the three-months ended April 30 2018. The classification of this charge on the Consolidated Statements of Income and Comprehensive Income is described in Note 8 Employee Retirement Benefits in the Notes to the Consolidated Financial Statements. The net periodic benefit cost for the prior fiscal year was not material. In the fiscal 2019 first quarter when it became effective, the Company adopted FASB ASU 2016-16, "Income Taxes (Topic 740) Intra-Entity Transfers of Assets Other Than Inventory" (ASU 2016-16). Previous GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. This prohibition on recognition is an exception to the principle of comprehensive recognition of current and deferred income taxes in GAAP. This new guidance eliminates the exception for an intra-entity transfer of an asset other than inventory. The Company did not have any intra-entity transfers of assets impacted by this guidance, as such the adoption of this guidance had no impact on its consolidated financial statements, results of operations, or disclosures. In the fiscal 2019 first quarter when it became effective, the Company adopted FASB ASU 2016-15, "Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments" (ASU 2016-15). The specific classification issues clarified in the guidance either were not applicable to the Company or are consistent with how the Company previously classified them, therefore the adoption of this guidance had no impact on its consolidated financial statements, results of operations, or disclosures. In the fiscal 2019 first quarter when it became effective, the Company adopted FASB ASU No. 2016-01, " Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. " The updated accounting guidance requires equity securities to be measured at fair value with changes in the fair value recognized through net income. An entity’s equity investments that are accounted for under the equity method of accounting or result in consolidation of an investee are not included within the scope of this update. The impacted financial instruments held at the time of adoption were not material, as such, the adoption of this guidance and the subsequent changes to Subtopic 825-10 in ASU 2018-03 "Technical Corrections and Improvements to Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities," did not have a material impact on the Company's consolidated financial statements, results of operations, or disclosures. In the fiscal 2019 first quarter, the Company adopted ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606)" (ASU 2014-09). ASU 2014-09 provides a comprehensive new recognition model that requires recognition of revenue when a company transfers promised goods or services to customers in an amount that reflects the consideration which a company expects to receive in exchange for those goods or services. This guidance supersedes the revenue recognition requirements in FASB ASC Topic 605, "Revenue Recognition," and most industry-specific guidance. ASU 2014-09 defines a five-step process to achieve this core principle. It also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts. The Company adopted ASU 2014-09 on a modified retrospective basis. The comparative historical information has not been adjusted and continues to be reported under ASC Topic 605 as previously presented. The adoption of ASU 2014-09 did not have a material impact on the Company’s consolidated financial statements or results of operations as of the adoption date or for the three months ended April 30, 2018 as a significant majority of our sales revenue is recognized when products are shipped from our manufacturing facilities. As part of our adoption of ASU 2014-09 we have elected the following practical expedients: modified retrospective basis was applied for all contracts that were not completed as of February 1, 2018; shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are considered fulfillment costs included within cost of sales; and taxes that are collected by the Company from a customer, which are assessed by governmental authorities that are both imposed upon and concurrent with a specific revenue-producing transaction, are excluded from revenues. Additional disclosures related to the revenues arising from contracts with customers as required by Topic 606 are included in Note 5 Revenue . New Accounting Standards Not Yet Adopted 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 a lease liability (to make lease payments) and a right-of-use asset (representing its right to use the underlying asset for the lease term) on the balance sheet. 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,

Selected Balance Sheet Informat

Selected Balance Sheet Information	3 Months Ended
	Apr. 30, 2018
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: April 30, 2018 January 31, 2018 Accounts receivable, net: Trade accounts $ 65,723 $ 57,063 Unbilled receivables 2,031 2,447 Allowance for doubtful accounts (942 ) (978 ) $ 66,812 $ 58,532 Inventories: Finished goods $ 7,008 $ 8,054 In process 995 961 Materials 47,159 46,336 $ 55,162 $ 55,351 Other current assets: Insurance policy benefit $ 207 $ 759 Income tax receivable 10 1,397 Prepaid expenses and other 4,266 3,705 $ 4,483 $ 5,861 Property, plant and equipment, net: Land $ 3,234 $ 3,234 Buildings and improvements 80,244 80,299 Machinery and equipment 153,489 149,847 Accumulated depreciation (130,337 ) (127,523 ) 106,630 105,857 Property, plant and equipment subject to capital leases: Machinery and equipment 521 488 Accumulated amortization for capitalized leases (114 ) (65 ) $ 107,037 $ 106,280 Other assets: Equity investments $ 96 $ 1,955 Receivable from sale of investment 1,167 — Deferred income taxes 21 19 Other 2,663 976 $ 3,947 $ 2,950 Accrued liabilities: Salaries and related $ 3,309 $ 9,409 Benefits 4,180 4,225 Insurance obligations 2,215 1,992 Warranties 1,097 1,163 Income taxes 4,126 226 Other taxes 905 1,880 Acquisition-related contingent consideration 1,483 1,036 Other 2,947 2,015 $ 20,262 $ 21,946 Other liabilities: Postretirement benefits $ 8,228 $ 8,264 Acquisition-related contingent consideration 1,420 2,010 Deferred income taxes 320 615 Uncertain tax positions 2,635 2,634 Other 3,450 272 $ 16,053 $ 13,795

Net Income per Share

Net Income per Share	3 Months Ended
	Apr. 30, 2018
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. 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 April 30, April 30, Anti-dilutive options and restricted stock units 16,304 470,265 The computation of earnings per share is presented below: Three Months Ended April 30, April 30, Numerator: Net income attributable to Raven Industries, Inc. $ 22,135 $ 12,348 Denominator: Weighted average common shares outstanding 35,826,096 36,080,143 Weighted average fully vested stock units outstanding 87,716 98,787 Denominator for basic calculation 35,913,812 36,178,930 Weighted average common shares outstanding 35,826,096 36,080,143 Weighted average fully vested stock units outstanding 87,716 98,787 Dilutive impact of stock options and restricted stock units 466,768 359,795 Denominator for diluted calculation 36,380,580 36,538,725 Net income per share ─ basic $ 0.62 $ 0.34 Net income per share ─ diluted $ 0.61 $ 0.34

Revenue (Notes)

Revenue (Notes)	3 Months Ended
	Apr. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	REVENUE Nature of goods and services The Company is comprised of three unique operating divisions, classified into reportable segments: Applied Technology (ATD), Engineered Films (EFD), and Aerostar (AERO). The following is a description of principal activities, separated by reportable segment, from which the Company generates revenue. Note that service revenues are not material and are not separately disclosed. Applied Technology Applied Technology designs, manufactures, sells, and services innovative precision agriculture products and information management tools, which are collectively referred to as precision agriculture equipment, that help growers reduce costs, more precisely control inputs, and improve crop yields for the global agriculture market. Customers can purchase precision agriculture equipment individually or in large quantities. For purchases made in large quantities, the Company accounts for each piece of equipment separately, as each is a distinct performance obligation from which the customer derives benefit. The stand-alone selling prices are determined based on the prices at which the Company charges other customers for similar products in similar circumstances. Kits or bundles, which can consist of various pieces of equipment, are shipped together and therefore allocation of transaction price does not impact timing of revenue recognition. In the normal course of business the customer agrees to a stated price that does not vary upon purchase and revenue is recognized when control has transferred to the customer. Engineered Films Engineered Films manufactures high performance plastic films and sheeting for geomembrane, agricultural, construction, and industrial applications. Engineered Films' ability to develop value-added innovative products is expanded by its fabrication, conversion, and installation capabilities. Plastic film and sheeting can be purchased separately or together with installation services. The majority of transactions within Engineered Films are considered non-customized product-only sales. The Company accounts for each product separately, as each is a distinct performance obligation from which the customer derives benefit. The stand-alone selling prices are determined based on the prices at which the Company charges other customers for similar products in similar circumstances. In the normal course of business the customer agrees to a stated price that does not vary upon purchase and revenue is recognized when control has transferred to the customer. The remaining transactions within Engineered Films are related to installation and/or customized product sales. Installation revenues are recognized over time using the cost incurred input method (i.e., costs incurred to date relative to total estimated costs at completion) because of continuous transfer of control to our customers. For customized product-only sales, the Company recognizes revenue over time by applying an output method, such as units delivered, to measure progress. Aerostar Aerostar serves the aerospace/defense and stratospheric balloon markets. Aerostar designs and manufactures proprietary products including high-altitude (stratospheric) balloon systems, and tethered aerostats, which are collectively referred to as lighter-than-air products, and offers radar processing systems and related services. These products can be integrated with additional third-party sensors to provide research, communications, and situational awareness capabilities to governmental and commercial customers. Aerostar pursues product and support services contracts with agencies and instrumentalities of the U.S. government. Product sales to customers for which we do not continuously transfer control are recognized based on a point-in-time. Contracts with customers which include elements of service, and are considered to be single performance obligations, are recognized over time. The stand-alone selling prices are determined based on the prices at which the Company charges other customers for similar products or services in similar circumstances. In the normal course of business the customer agrees to a stated price that does not vary upon purchase. For revenues recognized at a point-in-time, the Company recognizes revenue when control has transferred to the customer. Certain lighter-than-air contracts are recognized over time using the cost incurred input method. The remaining transactions are recognized over time applying an output method, such as units delivered, to measure progress. Disaggregation of Revenues In the following table, revenue is disaggregated by major product category and geography as we believe these categories best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. The table also includes a reconciliation of the disaggregated revenue with reportable segments. Revenue by Product Category Three Months Ended April 30, 2018 Three Months Ended April 30, 2017 ATD EFD AERO ELIM (a) Total ATD EFD AERO ELIM (a) Total Lighter-than-Air Domestic $ — $ — $ 6,548 $ — $ 6,548 $ — $ — $ 6,206 $ — $ 6,206 International — — 454 — 454 — — 26 — 26 Plastic Films & Sheeting Domestic — 55,297 — (194 ) 55,103 — 41,111 — (116 ) 40,995 International — 4,695 — — 4,695 — 2,444 — — 2,444 Precision Agriculture Equipment Domestic 29,525 — — — 29,525 30,259 — — — 30,259 International 10,905 — — — 10,905 10,231 — — — 10,231 Other Domestic — — 3,899 — 3,899 — — 3,332 — 3,332 International — — — — — — — 42 — 42 Totals $ 40,430 $ 59,992 $ 10,901 $ (194 ) $ 111,129 $ 40,490 $ 43,555 $ 9,606 $ (116 ) $ 93,535 (a) Intersegment sales for both fiscal 2019 and 2018 were primarily sales from Engineered Films to Aerostar. Contract Balances Contract assets consist of unbilled receivables and retainage. Contract assets primarily relate to the Company’s rights to consideration for work completed but not billed at the reporting date, or retainage provisions on billings that have been issued. Contract assets are converted to receivables when the right to collect becomes unconditional. Contract liabilities consist of customer advances and deferred revenue. Contract liabilities primarily relate to consideration received from customers prior to transferring goods or services to the customer. The following table reflects the changes in our contract assets and liabilities for the three months ended April 30, 2018: April 30, January 31, $ Change % Change Contract assets (a) $ 2,724 $ 3,119 $ (395 ) (12.7 )% Contract liabilities (b) $ 987 $ 1,890 $ (903 ) (47.8 )% (a) Contract assets are reported in "Accounts receivable, net" in the Consolidated Balance Sheet. (b) Contract liabilities are reported in "Other current liabilities" in the Consolidated Balance Sheet. During the three months ended April 30, 2018, the Company’s contract assets and contract liabilities decreased by $395 and $903 , respectively, primarily as a result of the contract terms for and timing of customer payments, timing of invoicing, and progress made on open contracts. Due to the short-term nature of the Company’s contracts, substantially all of the contract assets that existed as of January 31, 2018 were converted to receivables and contract liabilities that existed as of January 31, 2018 were recognized as revenue in the first quarter of fiscal 2019. Remaining performance obligations

Acquisitions and Divestitures o

Acquisitions and Divestitures of and Investments in Businesses and Technologies	3 Months Ended
	Apr. 30, 2018
Business Combinations [Abstract]
Acquisitions of and Investments in Businesses and Technologies	ACQUISITIONS AND DIVESTITURES OF AND INVESTMENTS IN BUSINESSES AND TECHNOLOGIES Colorado Lining International, Inc. On September 1, 2017 , the Company completed the acquisition of substantially all of the assets (the acquisition) of Colorado Lining International, Inc. , a Colorado corporation, headquartered in Parker, CO (CLI). The acquisition was immediately aligned under the Company’s Engineered Films Division. The acquisition enhanced the Company’s geomembrane market position through extended service and product offerings with the addition of new design-build and installation service components, and advanced Engineered Films’ business model into a vertically-integrated, full-service solutions provider for the geomembrane market. The acquisition constituted a business and as such was accounted for as a business combination. The purchase price of $14,938 included a potential earn-out with an estimated fair value of $1,256 . The earn-out payments are contingent upon achieving certain revenue targets and operational synergies. The fair value of the business acquired was allocated to the assets acquired and liabilities assumed based on their estimated fair values. The excess of the purchase price over the fair value of the identifiable assets acquired and liabilities assumed was recorded as goodwill. Goodwill recorded as part of the purchase price allocation was $5,714 , all of which is tax deductible. Intangible assets acquired in the acquisition related to customer relationships, order backlog and non-complete agreements and were valued at $610 . Aerostar's Client Private Business In fiscal 2018 Aerostar actively marketed the sale of its client private business and classified it as held for sale. During the first quarter of fiscal 2019, the client private business was sold for $832 which resulted in an immaterial gain. Site-Specific Technology Development Group, Inc. (SST) In February 2018 the Company sold its ownership interest, which was being accounted for as an equity method investment, of approximately 22% in SST with a carrying value of $1,937 . Raven received $6,556 in cash at closing. The Company recognized a gain on the sale of $5,785 for the three months ended April 30, 2018 and this gain was reported in "Other income (expense), net" in the Consolidated Statements of Income and Comprehensive Income. This amount includes a fifteen percent hold-back provision held in an escrow account which is expected to be settled in fiscal 2020. Acquisition-related Contingent Consideration The Company has contingent liabilities related to the acquisition of CLI in September 2017, as well as the prior 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). Changes in the fair value of the liability for acquisition-related contingent consideration are as follows: Three Months Ended April 30, April 30, Beginning balance $ 3,046 $ 1,742 Change in fair value of the liability 152 91 Contingent consideration earn-out paid (295 ) (161 ) Ending balance $ 2,903 $ 1,672 Classification of liability in the Consolidated balance sheet Accrued liabilities $ 1,483 $ 434 Other liabilities, long-term 1,420 1,238 Balance at April 30 $ 2,903 $ 1,672 In the CLI acquisition, the Company entered into a contingent earn-out agreement, not to exceed $2,000 . The earn-out is paid annually for three years after the purchase date, contingent upon achieving certain revenues and operational synergies. To date, the Company has made no payments on this potential earn-out liability. 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. To date, the Company has paid a total of $974 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 . To date, the Company has paid a total of $1,783
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]	Changes in the fair value of the liability for acquisition-related contingent consideration are as follows: Three Months Ended April 30, April 30, Beginning balance $ 3,046 $ 1,742 Change in fair value of the liability 152 91 Contingent consideration earn-out paid (295 ) (161 ) Ending balance $ 2,903 $ 1,672 Classification of liability in the Consolidated balance sheet Accrued liabilities $ 1,483 $ 434 Other liabilities, long-term 1,420 1,238 Balance at April 30 $ 2,903 $ 1,672

Goodwill, Long-lived Assets and

Goodwill, Long-lived Assets and Other Intangibles Goodwill, Long-lived Assets and Other Intangibles (Notes)	3 Months Ended
	Apr. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill Impairment Loss and Other Charges	GOODWILL, LONG-LIVED ASSETS, AND OTHER CHARGES 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 first quarter of fiscal 2019 and fiscal 2018 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-month periods ending April 30, 2018 and 2017, respectively. The changes in the carrying amount of goodwill by reporting unit were as follows: Applied Technology Engineered Films Aerostar Total Balance at January 31, 2018 $ 12,741 $ 33,232 $ 737 $ 46,710 Divestiture of business — — (103 ) (103 ) Foreign currency translation adjustment (78 ) — — (78 ) Balance at April 30, 2018 $ 12,663 $ 33,232 $ 634 $ 46,529 Long-lived Assets and Other Intangibles Fiscal 2019 The Company assesses the recoverability of long-lived assets, including definite-lived intangibles and property plant and equipment if events or changes in circumstances indicate that an asset might be impaired and performs impairment reviews by asset group. 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 estimated undiscounted cash flows used in determining the fair value of the asset are less than its carrying amount. Management performed an assessment in fiscal 2019 first quarter and determined that there were no impairment indicators identified for any of the Company's asset groups. There were no long-lived asset impairment losses reported in the three-month period ending April 30, 2018. Fiscal 2018 During first quarter of fiscal 2018, the Company determined that the investment in AgEagle Aerial Systems, Inc. (AgEagle) 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 income (expense), net" in the Consolidated Statements of Income and Comprehensive Income for the three-month period ended April 30, 2017. The Company also determined the customer relationship intangible asset related to the AgEagle 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 three-month period ended April 30, 2017. The following table provides the gross carrying amount and related accumulated amortization of definite-lived intangible assets: April 30, 2018 January 31, 2018 Accumulated Accumulated Amount amortization Net Amount amortization Net Existing technology $ 7,260 $ (7,046 ) $ 214 $ 7,290 $ (6,996 ) $ 294 Customer relationships 13,245 (5,400 ) 7,845 13,264 (4,834 ) 8,430 Patents and other intangibles 4,257 (2,501 ) 1,756 4,241 (2,381 ) 1,860 Total $ 24,762 $ (14,947 ) $ 9,815 $ 24,795 $ (14,211 ) $ 10,584

Employee Postretirement Benefit

Employee Postretirement Benefits	3 Months Ended
	Apr. 30, 2018
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 April 30, April 30, Service cost $ 7 $ 22 Interest cost 79 82 Amortization of actuarial losses 32 30 Amortization of unrecognized gains in prior service cost (40 ) (40 ) Net periodic benefit cost $ 78 $ 94 Postretirement benefit cost components are reclassified in their entirety from accumulated other comprehensive loss to net periodic benefit cost. Net periodic benefit costs are reported in net income in accordance with ASU 2017-07 "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Postretirement Benefit Cost" (ASU 2017-07) further described in Note 2 Summary of Significant Accounting Policies

Warranties

Warranties	3 Months Ended
	Apr. 30, 2018
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 April 30, April 30, Beginning balance $ 1,163 $ 1,547 Change in provision 157 1,377 Settlements made (223 ) (519 ) Ending balance $ 1,097 $ 2,405

Financing Arrangements Financin

Financing Arrangements Financing Arrangements	3 Months Ended
	Apr. 30, 2018
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. The unamortized debt issuance costs associated with this Credit Agreement were as follows: Three Months Ended April 30, 2018 January 31, 2018 Unamortized debt issuance costs (a) $ 215 $ 242 (a) Unamortized debt issuance costs are reported as "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 is in compliance with all covenants as of April 30, 2018. 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 (LOC) issued and outstanding were as follows: Three Months Ended April 30, 2018 January 31, 2018 Letters of credit outstanding (a) $ 514 $ 1,097 (a) All of these LOC are outstanding under the Credit Agreement except one LOC for $50 that is outstanding with Wells Fargo. Any draws required under the LOC 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 April 30, 2018 was $124,536

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies Disclosure	3 Months Ended
	Apr. 30, 2018
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. The Company has insurance policies that provide coverage to various degrees for potential liabilities arising from legal proceedings. The Company entered into a Gift Agreement (the Agreement) effective in January 2018 with the South Dakota State University Foundation, Inc. (the Foundation). The Agreement states that the Company will make a $5,000 gift to the Foundation, conditional on certain other actions. Management concluded that the contingencies related to this gift were substantially met during the three-month period ended April 30, 2018 and it is probable a liability has been incurred. The fair value of this contingency at April 30, 2018 was $4,503 (measured based on the present value of the expected future cash outflows) of which $1,394 was classified as "Accrued liabilities" and $3,109 was classified as "Other liabilities". The expense related to this liability is reported within “Selling, general, and administrative expenses”. This gift will be used by South Dakota State University (SDSU), located in Brookings, SD, for the establishment of a precision agriculture facility to support SDSU's Precision Agriculture degrees and curriculum.

Income Tax Income Tax Disclosur

Income Tax Income Tax Disclosure	3 Months Ended
	Apr. 30, 2018
Income Tax Disclosure [Abstract]
Income Tax Disclosure	INCOME TAXES The U.S. Tax Cuts and Jobs Act (TCJA) was enacted on December 22, 2017 and reduced the U.S. federal statutory tax rate to 21 percent effective January 1, 2018. In addition, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the TCJA (SAB 118), which allows the Company to record provisional amounts during a measurement period not to extend beyond one year from the enactment date. Since the TCJA was passed late in the fourth quarter of fiscal 2018, ongoing guidance and accounting interpretation are expected over the next year, and significant data and analysis is required to finalize amounts recorded pursuant to the TCJA. As such, the Company considers the accounting for the transition tax to be incomplete due to the forthcoming guidance and its ongoing analysis of final year-end data and tax positions. The Company expects to complete its analysis within the measurement period in accordance with SAB 118. Also, the Company has determined that it will elect to recognize Global Intangible Low Taxed Income (GILTI) as a period cost if, and when, incurred. As of April 30, 2018, undistributed earnings of the Canadian and European subsidiaries were considered to have been reinvested indefinitely. The Company’s effective tax rate varies from the federal statutory rate primarily due to state and local taxes, research and development tax credit, foreign-derived intangible income deduction, and tax-exempt insurance premiums. The Company’s effective tax rates for the three-month periods ended April 30, 2018 and 2017 were 18.6% and 31.4% , respectively. The decrease in the effective tax rate is primarily due to the decrease in the federal statutory tax rate pursuant to the TCJA. The Company also recognized a discrete tax benefit (expense) related to the vesting or settlement of stock awards of $243 and $(479)

Dividends and Treasury Stock

Dividends and Treasury Stock	3 Months Ended
	Apr. 30, 2018
Stockholders' Equity Note [Abstract]
Dividends and Treasury Stock	DIVIDENDS AND TREASURY STOCK Dividends paid to Raven shareholders were as follows: Three Months Ended April 30, April 30, Dividends paid (a) $ 4,658 $ 4,691 Dividends paid per share (in cents per share) (a) 13.0 13.0 (a) There were no declared and unpaid shareholder dividends at April 30, 2018 or 2017. On November 3, 2014, the Company announced that its Board of Directors (Board) had authorized a $40,000 stock buyback program. Since that time, the Board has provided additional authorizations to increase the total amount authorized under the program to $75,000 . This authorization remains in place until such time as the authorized spending limit is reached or such authorization is revoked by the Board. There were no shares repurchased pursuant to these authorizations in the three-month periods ended April 30, 2018 and April 30, 2017 . The remaining dollar value authorized for share repurchases at April 30, 2018 is $27,959

Share Based Compensation

Share Based Compensation	3 Months Ended
	Apr. 30, 2018
Share-based Compensation [Abstract]
Share Based Compensation	SHARE-BASED COMPENSATION Share-based compensation expense is recognized based on the fair value of the share-based awards expected to vest during the period, net of estimated forfeitures. The share-based compensation expense was as follows: Three Months Ended April 30, 2018 April 30, 2017 Cost of sales $ 80 $ 58 Research and development expenses 31 37 Selling, general, and administrative expenses 676 696 Total stock-based compensation expense $ 787 $ 791

Segment Reporting

Segment Reporting	3 Months Ended
	Apr. 30, 2018
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 certain metrics such as net sales and operating income excluding general and administrative expenses. Other income (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 April 30, April 30, Net sales Applied Technology $ 40,430 $ 40,490 Engineered Films (a) 59,992 43,555 Aerostar 10,901 9,606 Intersegment eliminations (b) (194 ) (116 ) Consolidated net sales $ 111,129 $ 93,535 Operating income (c) Applied Technology $ 15,948 $ 13,453 Engineered Films 13,196 8,720 Aerostar 2,805 1,418 Intersegment eliminations (15 ) (2 ) Total reportable segment income 31,934 23,589 General and administrative expenses (c) (10,403 ) (5,370 ) Consolidated operating income $ 21,531 $ 18,219 (a) Fiscal year 2019 Net sales includes $7,744 in net sales related to the CLI asset acquisition further described in Note 6 "Acquisitions and Divestitures of and Investments in Businesses and Technologies", and $8,919 of recovery film sales related to the hurricane recovery effort. (b) Intersegment sales for both fiscal 2019 and 2018 were primarily sales from Engineered Films to Aerostar. (c)

Subsequent Events (Notes)

Subsequent Events (Notes)	3 Months Ended
	Apr. 30, 2018
Subsequent Event [Line Items]
Subsequent Events [Text Block]	SUBSEQUENT EVENTS

Summary of Significant Accoun25

Summary of Significant Accounting Policies New Accounting Standards (Policies) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
New Accounting Standards [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Accounting Standards Adopted In the fiscal 2019 first quarter, the Company early adopted Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income" (ASU 2018-02) issued in February 2018. The amendments in this guidance allow for a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act (TCJA). Consequently, the amendments eliminate the stranded tax effects resulting from the TCJA and are intended to improve the usefulness of information reported. The Company elected to apply the amendments in the period of adoption. The Company recorded a $280 reclassification entry for the stranded tax effects in Accumulated Other Comprehensive Income related to Raven's post-retirement plan further disclosed in the Company's Annual Report in the Form 10-K filed March 23, 2018. The impact of the reclassification is reported as "Reclassification due to ASU 2018-02 adoption" in the Consolidated Statements of Shareholders' Equity. In the fiscal 2019 first quarter when it became effective, the Company adopted FASB ASU No. 2017-09, "Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting" (ASU 2017-09) on a prospective basis. 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 liability instruments are the same immediately before and after the modification to the award. The Company did not modify any of its outstanding awards during the three-month period ended April 30, 2018; therefore, the adoption of this guidance had no impact on its consolidated financial statements, results of operations, or disclosures. In the fiscal 2019 first quarter when it became effective, the Company adopted, the FASB 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. The adoption of this guidance resulted in $7 of the net periodic benefit cost being reported as a charge to operating income and $71 reported as a charge to non-operating income (expense) for the three-months ended April 30 2018. The classification of this charge on the Consolidated Statements of Income and Comprehensive Income is described in Note 8 Employee Retirement Benefits in the Notes to the Consolidated Financial Statements. The net periodic benefit cost for the prior fiscal year was not material. In the fiscal 2019 first quarter when it became effective, the Company adopted FASB ASU 2016-16, "Income Taxes (Topic 740) Intra-Entity Transfers of Assets Other Than Inventory" (ASU 2016-16). Previous GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. This prohibition on recognition is an exception to the principle of comprehensive recognition of current and deferred income taxes in GAAP. This new guidance eliminates the exception for an intra-entity transfer of an asset other than inventory. The Company did not have any intra-entity transfers of assets impacted by this guidance, as such the adoption of this guidance had no impact on its consolidated financial statements, results of operations, or disclosures. In the fiscal 2019 first quarter when it became effective, the Company adopted FASB ASU 2016-15, "Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments" (ASU 2016-15). The specific classification issues clarified in the guidance either were not applicable to the Company or are consistent with how the Company previously classified them, therefore the adoption of this guidance had no impact on its consolidated financial statements, results of operations, or disclosures. In the fiscal 2019 first quarter when it became effective, the Company adopted FASB ASU No. 2016-01, " Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. " The updated accounting guidance requires equity securities to be measured at fair value with changes in the fair value recognized through net income. An entity’s equity investments that are accounted for under the equity method of accounting or result in consolidation of an investee are not included within the scope of this update. The impacted financial instruments held at the time of adoption were not material, as such, the adoption of this guidance and the subsequent changes to Subtopic 825-10 in ASU 2018-03 "Technical Corrections and Improvements to Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities," did not have a material impact on the Company's consolidated financial statements, results of operations, or disclosures. In the fiscal 2019 first quarter, the Company adopted ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606)" (ASU 2014-09). ASU 2014-09 provides a comprehensive new recognition model that requires recognition of revenue when a company transfers promised goods or services to customers in an amount that reflects the consideration which a company expects to receive in exchange for those goods or services. This guidance supersedes the revenue recognition requirements in FASB ASC Topic 605, "Revenue Recognition," and most industry-specific guidance. ASU 2014-09 defines a five-step process to achieve this core principle. It also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts. The Company adopted ASU 2014-09 on a modified retrospective basis. The comparative historical information has not been adjusted and continues to be reported under ASC Topic 605 as previously presented. The adoption of ASU 2014-09 did not have a material impact on the Company’s consolidated financial statements or results of operations as of the adoption date or for the three months ended April 30, 2018 as a significant majority of our sales revenue is recognized when products are shipped from our manufacturing facilities. As part of our adoption of ASU 2014-09 we have elected the following practical expedients: modified retrospective basis was applied for all contracts that were not completed as of February 1, 2018; shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are considered fulfillment costs included within cost of sales; and taxes that are collected by the Company from a customer, which are assessed by governmental authorities that are both imposed upon and concurrent with a specific revenue-producing transaction, are excluded from revenues. Additional disclosures related to the revenues arising from contracts with customers as required by Topic 606 are included in Note 5 Revenue
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	New Accounting Standards Not Yet Adopted 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 a lease liability (to make lease payments) and a right-of-use asset (representing its right to use the underlying asset for the lease term) on the balance sheet. 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,
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income		$ 0

Selected Balance Sheet Inform26

Selected Balance Sheet Information (Tables)	3 Months Ended
	Apr. 30, 2018
Selected Balance Sheet Information [Abstract]
Components of selected balance sheet items	Following are the components of selected items from the Consolidated Balance Sheets: April 30, 2018 January 31, 2018 Accounts receivable, net: Trade accounts $ 65,723 $ 57,063 Unbilled receivables 2,031 2,447 Allowance for doubtful accounts (942 ) (978 ) $ 66,812 $ 58,532 Inventories: Finished goods $ 7,008 $ 8,054 In process 995 961 Materials 47,159 46,336 $ 55,162 $ 55,351 Other current assets: Insurance policy benefit $ 207 $ 759 Income tax receivable 10 1,397 Prepaid expenses and other 4,266 3,705 $ 4,483 $ 5,861 Property, plant and equipment, net: Land $ 3,234 $ 3,234 Buildings and improvements 80,244 80,299 Machinery and equipment 153,489 149,847 Accumulated depreciation (130,337 ) (127,523 ) 106,630 105,857 Property, plant and equipment subject to capital leases: Machinery and equipment 521 488 Accumulated amortization for capitalized leases (114 ) (65 ) $ 107,037 $ 106,280 Other assets: Equity investments $ 96 $ 1,955 Receivable from sale of investment 1,167 — Deferred income taxes 21 19 Other 2,663 976 $ 3,947 $ 2,950 Accrued liabilities: Salaries and related $ 3,309 $ 9,409 Benefits 4,180 4,225 Insurance obligations 2,215 1,992 Warranties 1,097 1,163 Income taxes 4,126 226 Other taxes 905 1,880 Acquisition-related contingent consideration 1,483 1,036 Other 2,947 2,015 $ 20,262 $ 21,946 Other liabilities: Postretirement benefits $ 8,228 $ 8,264 Acquisition-related contingent consideration 1,420 2,010 Deferred income taxes 320 615 Uncertain tax positions 2,635 2,634 Other 3,450 272 $ 16,053 $ 13,795

Net Income per Share (Tables)

Net Income per Share (Tables)	3 Months Ended
	Apr. 30, 2018
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 April 30, April 30, Anti-dilutive options and restricted stock units 16,304 470,265
Schedule of calculation of numerator and denominator in earnings per share	The computation of earnings per share is presented below: Three Months Ended April 30, April 30, Numerator: Net income attributable to Raven Industries, Inc. $ 22,135 $ 12,348 Denominator: Weighted average common shares outstanding 35,826,096 36,080,143 Weighted average fully vested stock units outstanding 87,716 98,787 Denominator for basic calculation 35,913,812 36,178,930 Weighted average common shares outstanding 35,826,096 36,080,143 Weighted average fully vested stock units outstanding 87,716 98,787 Dilutive impact of stock options and restricted stock units 466,768 359,795 Denominator for diluted calculation 36,380,580 36,538,725 Net income per share ─ basic $ 0.62 $ 0.34 Net income per share ─ diluted $ 0.61 $ 0.34

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Apr. 30, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	Disaggregation of Revenues In the following table, revenue is disaggregated by major product category and geography as we believe these categories best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. The table also includes a reconciliation of the disaggregated revenue with reportable segments. Revenue by Product Category Three Months Ended April 30, 2018 Three Months Ended April 30, 2017 ATD EFD AERO ELIM (a) Total ATD EFD AERO ELIM (a) Total Lighter-than-Air Domestic $ — $ — $ 6,548 $ — $ 6,548 $ — $ — $ 6,206 $ — $ 6,206 International — — 454 — 454 — — 26 — 26 Plastic Films & Sheeting Domestic — 55,297 — (194 ) 55,103 — 41,111 — (116 ) 40,995 International — 4,695 — — 4,695 — 2,444 — — 2,444 Precision Agriculture Equipment Domestic 29,525 — — — 29,525 30,259 — — — 30,259 International 10,905 — — — 10,905 10,231 — — — 10,231 Other Domestic — — 3,899 — 3,899 — — 3,332 — 3,332 International — — — — — — — 42 — 42 Totals $ 40,430 $ 59,992 $ 10,901 $ (194 ) $ 111,129 $ 40,490 $ 43,555 $ 9,606 $ (116 ) $ 93,535 (a)
Contract with Customer, Asset and Liability [Table Text Block]	The following table reflects the changes in our contract assets and liabilities for the three months ended April 30, 2018: April 30, January 31, $ Change % Change Contract assets (a) $ 2,724 $ 3,119 $ (395 ) (12.7 )% Contract liabilities (b) $ 987 $ 1,890 $ (903 ) (47.8 )% (a) Contract assets are reported in "Accounts receivable, net" in the Consolidated Balance Sheet. (b)

Goodwill, Long-lived Assets a29

Goodwill, Long-lived Assets and Other Intangibles (Tables)	3 Months Ended
	Apr. 30, 2018
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, 2018 $ 12,741 $ 33,232 $ 737 $ 46,710 Divestiture of business — — (103 ) (103 ) Foreign currency translation adjustment (78 ) — — (78 ) Balance at April 30, 2018 $ 12,663 $ 33,232 $ 634 $ 46,529
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: April 30, 2018 January 31, 2018 Accumulated Accumulated Amount amortization Net Amount amortization Net Existing technology $ 7,260 $ (7,046 ) $ 214 $ 7,290 $ (6,996 ) $ 294 Customer relationships 13,245 (5,400 ) 7,845 13,264 (4,834 ) 8,430 Patents and other intangibles 4,257 (2,501 ) 1,756 4,241 (2,381 ) 1,860 Total $ 24,762 $ (14,947 ) $ 9,815 $ 24,795 $ (14,211 ) $ 10,584

Employee Postretirement Benef30

Employee Postretirement Benefits Employee Postretirement Benefits (Tables)	3 Months Ended
	Apr. 30, 2018
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 April 30, April 30, Service cost $ 7 $ 22 Interest cost 79 82 Amortization of actuarial losses 32 30 Amortization of unrecognized gains in prior service cost (40 ) (40 ) Net periodic benefit cost $ 78 $ 94

Warranties (Tables)

Warranties (Tables)	3 Months Ended
	Apr. 30, 2018
Product Warranties Disclosures [Abstract]
Warranties	Changes in the warranty accrual were as follows: Three Months Ended April 30, April 30, Beginning balance $ 1,163 $ 1,547 Change in provision 157 1,377 Settlements made (223 ) (519 ) Ending balance $ 1,097 $ 2,405

Financing Arrangements Tables

Financing Arrangements Tables	3 Months Ended
	Apr. 30, 2018
Line of Credit Facility [Line Items]
Schedule of Debt [Table Text Block]	The unamortized debt issuance costs associated with this Credit Agreement were as follows: Three Months Ended April 30, 2018 January 31, 2018 Unamortized debt issuance costs (a) $ 215 $ 242 (a)
Schedule of Line of Credit Facilities [Table Text Block]	Letters of credit (LOC) issued and outstanding were as follows: Three Months Ended April 30, 2018 January 31, 2018 Letters of credit outstanding (a) $ 514 $ 1,097 (a) All of these LOC are outstanding under the Credit Agreement except one LOC for $50

Dividends and Treasury Stock Ta

Dividends and Treasury Stock Tables (Tables)	3 Months Ended
	Apr. 30, 2018
Stockholders' Equity Note [Abstract]
Dividends Declared [Table Text Block]	Dividends paid to Raven shareholders were as follows: Three Months Ended April 30, April 30, Dividends paid (a) $ 4,658 $ 4,691 Dividends paid per share (in cents per share) (a) 13.0 13.0 (a) There were no declared and unpaid shareholder dividends at April 30, 2018 or 2017.

Share Based Compensation (Table

Share Based Compensation (Tables)	3 Months Ended
	Apr. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	The share-based compensation expense was as follows: Three Months Ended April 30, 2018 April 30, 2017 Cost of sales $ 80 $ 58 Research and development expenses 31 37 Selling, general, and administrative expenses 676 696 Total stock-based compensation expense $ 787 $ 791

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Apr. 30, 2018
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 April 30, April 30, Net sales Applied Technology $ 40,430 $ 40,490 Engineered Films (a) 59,992 43,555 Aerostar 10,901 9,606 Intersegment eliminations (b) (194 ) (116 ) Consolidated net sales $ 111,129 $ 93,535 Operating income (c) Applied Technology $ 15,948 $ 13,453 Engineered Films 13,196 8,720 Aerostar 2,805 1,418 Intersegment eliminations (15 ) (2 ) Total reportable segment income 31,934 23,589 General and administrative expenses (c) (10,403 ) (5,370 ) Consolidated operating income $ 21,531 $ 18,219 (a) Fiscal year 2019 Net sales includes $7,744 in net sales related to the CLI asset acquisition further described in Note 6 "Acquisitions and Divestitures of and Investments in Businesses and Technologies", and $8,919 of recovery film sales related to the hurricane recovery effort. (b) Intersegment sales for both fiscal 2019 and 2018 were primarily sales from Engineered Films to Aerostar. (c)

Basis of Presentation and Pri36

Basis of Presentation and Principles of Consolidation (Details)	3 Months Ended
	Apr. 30, 2018segment
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%

Summary of Significant Accoun37

Summary of Significant Accounting Policies Effect of adopting new accounting guidance (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption	$ 280
Other Postretirement Benefit Plans, Defined Benefit [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Service cost	7	$ 22
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	78	$ 94
Other Postretirement Benefit Plans, Defined Benefit [Member] | Operating Income (Loss) [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Service cost	7
Other Postretirement Benefit Plans, Defined Benefit [Member] | Other Nonoperating Income (Expense) [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ 71

Selected Balance Sheet Inform38

Selected Balance Sheet Information (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Jan. 31, 2018	Apr. 30, 2017	Jan. 31, 2017
Accounts receivable, net:
Trade accounts	$ 65,723	$ 57,063
Unbilled receivables	2,031	2,447
Allowance for doubtful accounts	(942)	(978)
Accounts receivable, net	66,812	58,532
Inventories:
Finished goods	7,008	8,054
In process	995	961
Materials	47,159	46,336
Inventories	55,162	55,351
Other current assets:
Insurance policy benefit	207	759
Income tax receivable	10	1,397
Prepaid Expense and other	4,266	3,705
Other current assets	4,483	5,861
Property, plant and equipment, net:
Property, plant and equipment, net	107,037	106,280
Other Assets (Noncurrent):
Equity investments	96	1,955
Receivable from sale of investments	1,167	0
Deferred Tax Assets, Net, Noncurrent	21	19
Other	2,663	976
Other assets	3,947	2,950
Accrued liabilities:
Salaries and related	3,309	9,409
Benefits	4,180	4,225
Insurance obligations	2,215	1,992
Warranties	1,097	1,163	$ 2,405	$ 1,547
Income Taxes	4,126	226
Other taxes	905	1,880
Acquisition-related contingent consideration liability, current	1,483	1,036
Other	2,947	2,015
Accrued liabilities	20,262	21,946
Other liabilities:
Postretirement benefits	8,228	8,264
Acquisition-related contingent consideration liability, long-term	1,420	2,010
Deferred income taxes	320	615
Uncertain tax positions	2,635	2,634
Liabilities, Noncurrent	3,450	272
Other liabilities	16,053	13,795
Land [Member]
Property, plant and equipment, net:
Property, plant and equipment	3,234	3,234
Building and Building Improvements [Member]
Property, plant and equipment, net:
Property, plant and equipment	80,244	80,299
Machinery and Equipment [Member]
Property, plant and equipment, net:
Property, plant and equipment	153,489	149,847
Property, plant and equipment, Owned [Member]
Property, plant and equipment, net:
Accumulated depreciation	(130,337)	(127,523)
Property, plant and equipment, net	106,630	105,857
Assets Held under Capital Leases [Member]
Property, plant and equipment, net:
Property, plant and equipment	521	488
Accumulated depreciation	(114)	(65)
Assets owned or held under capital lease [Member]
Property, plant and equipment, net:
Property, plant and equipment, net	$ 107,037	$ 106,280

Net Income per Share (Antidilut

Net Income per Share (Antidiluted Securities Excluded from Computation) (Details) - shares	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, amount (in options and restricted units)	16,304	470,265

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
	Apr. 30, 2018	Apr. 30, 2017
Numerator:
Net income attributable to Raven Industries, Inc.	$ 22,135	$ 12,348
Denominator:
Weighted average common shares outstanding (in shares)	35,826,096	36,080,143
Weighted average fully vested stock units outstanding (in shares)	87,716	98,787
Denominator for basic calculation (in shares)	35,913,812	36,178,930
Weighted average common shares outstanding (in shares)	35,826,096	36,080,143
Weighted average fully vested stock units outstanding (in shares)	87,716	98,787
Dilutive impact of stock options and restricted units (in shares)	466,768	359,795
Denominator for diluted calculation (in shares)	36,380,580	36,538,725
Net income per share - basic (in dollars per share)	$ 0.62	$ 0.34
Net income per share - diluted (in dollars per share)	$ 0.61	$ 0.34

Revenue Disaggregation of Reven

Revenue Disaggregation of Revenue (Details) - USD ($) $ in Thousands		3 Months Ended
		Apr. 30, 2018	Apr. 30, 2017
Disaggregation of Revenue [Line Items]
Net sales		$ 111,129	$ 93,535
Lighter-than-air [Member]
Disaggregation of Revenue [Line Items]
Domestic Net Sales		6,548	6,206
International Net Sales		454	26
Plastic Films and Sheeting [Member]
Disaggregation of Revenue [Line Items]
Domestic Net Sales		55,103	40,995
International Net Sales		4,695	2,444
Precision Agriculture [Member]
Disaggregation of Revenue [Line Items]
Domestic Net Sales		29,525	30,259
International Net Sales		10,905	10,231
Product [Member]
Disaggregation of Revenue [Line Items]
Domestic Net Sales		3,899	3,332
International Net Sales		0	42
Engineered Films Plastic Films & Sheeting [Member]
Disaggregation of Revenue [Line Items]
Domestic Net Sales		55,297	41,111
International Net Sales		4,695	2,444
Net sales		59,992	43,555
Applied Technology Precision Agriculture Equipment [Member]
Disaggregation of Revenue [Line Items]
Domestic Net Sales		29,525	30,259
International Net Sales		10,905	10,231
Net sales		40,430	40,490
Aerostar Lighter-than-air [Member]
Disaggregation of Revenue [Line Items]
Domestic Net Sales		6,548	6,206
International Net Sales		454	26
Aerostar Other [Member]
Disaggregation of Revenue [Line Items]
Domestic Net Sales		3,899	3,332
International Net Sales		0	42
Aerostar [Member]
Disaggregation of Revenue [Line Items]
Net sales		10,901	9,606
Intersegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Domestic Net Sales	[1]	(194)	(116)
Net sales	[1],[2]	(194)	(116)
All Segments [Member]
Disaggregation of Revenue [Line Items]
Net sales		$ 111,129	$ 93,535
[1]	Intersegment sales for both fiscal 2019 and 2018 were primarily sales from Engineered Films to Aerostar.
[2]	Intersegment sales for both fiscal 2019 and 2018 were primarily sales from Engineered Films to Aerostar.

Revenue Contract Asset and Cont

Revenue Contract Asset and Contract Liabilities balances (Details) - USD ($) $ in Thousands		3 Months Ended
		Apr. 30, 2018	Jan. 31, 2018
Capitalized Contract Cost [Line Items]
Increase (Decrease) in Contract Assets		$ (395)
Increase (Decrease) in Contract Liabilities		(903)
Short-term Contract with Customer [Member]
Capitalized Contract Cost [Line Items]
Contract with Customer, Asset, Gross	[1]	2,724	$ 3,119
Increase (Decrease) in Contract Assets		$ (395)
Increase (decrease) in contract assets with customers, percentage	[1]	(12.70%)
Contract with Customer, Liability, Current	[2]	$ 987	$ 1,890
Increase (Decrease) in Contract Liabilities		$ (903)
Increase (decrease) in contract liabilities with customers, percentage	[2]	(47.80%)
[1]	Contract assets are reported in "Accounts receivable, net" in the Consolidated Balance Sheet.
[2]	Contract liabilities are reported in "Other current liabilities" in the Consolidated Balance Sheet.

Revenue Details (Details)

Revenue Details (Details) $ in Thousands	3 Months Ended
	Apr. 30, 2018USD ($)segment
Revenue from Contract with Customer [Abstract]
Number of operating divisions | segment	3
Increase (Decrease) in Cost in Excess of Billing on Uncompleted Contract	$ (395)
Increase (Decrease) in Billing in Excess of Cost of Earnings	(903)
Performance obligations more than one year	$ 0

Acquisitions and Divestitures44

Acquisitions and Divestitures of and Investments in Businesses and Technologies Business Combinations (Details) - USD ($) $ in Thousands	Feb. 05, 2018	Sep. 01, 2017	Apr. 30, 2018	Apr. 30, 2017	Jan. 31, 2018
Variable Interest Entity Disclosure [Abstract]
Proceeds from sale or maturity of investments			$ 6,556	$ 0
Equity Method Investment, Realized Gain (Loss) on Disposal			$ 5,785	$ 0
Engineered Films [Member] | CLI [Member]
Business Combination, Description [Abstract]
Business Acquisition, Effective Date of Acquisition Agreement			Sep. 1, 2017
Business Acquisition, Name of Acquired Entity			Colorado Lining International, Inc.
Business Combination, Consideration Transferred		$ 14,938
Fair Value of Business Acquisition Contingent Consideration - at acquisition		1,256
Goodwill		5,714
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 610
Aerostar [Member]
Business Combination, Description [Abstract]
Proceeds from disposal of Aerostar client private business			$ 832
Applied Technology [Member] | SST [Member]
Variable Interest Entity Disclosure [Abstract]
Disposal Date	Feb. 5, 2018
Equity Method Investment, Ownership Percentage					22.00%
Equity Method Investment, Additional Information	SST
Equity Method Investments					$ 1,937
Proceeds from sale or maturity of investments	$ 6,556
Other Nonoperating Income (Expense) [Member] | Applied Technology [Member] | SST [Member]
Variable Interest Entity Disclosure [Abstract]
Equity Method Investment, Realized Gain (Loss) on Disposal			$ (5,785)

Acquisitions and Divestitures45

Acquisitions and Divestitures of and Investments in Businesses and Technologies Acquisition-related Contingent Consideration (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2018	Apr. 30, 2017
Acquisition-related contingent consideration [Roll Forward]
Acquisition-related contingent consideration, Beginning Balance	$ 3,046	$ 1,742
Change in fair value of acquisition-related contingent consideration	152	91
Payments of acquisition-related contingent liability	(295)	(161)
Acquisition-related contingent consideration, Ending Balance	2,903	1,672
Acquisition-related contingent consideration liability, current			$ 1,483	$ 434
Acquisition-related contingent consideration liability, Noncurrent			1,420	1,238
Business Combination, Contingent Consideration, Liability	$ 3,046	$ 1,742	2,903	$ 1,672
Applied Technology [Member] | SBG Innovatiie and affiliate [Member]
Business Combination, Contingent Consideration Arrangements [Abstract]
Business Acquisition, Date of Acquisition Agreement	May 1, 2014
Contingent Consideration Term in Years	10 years
Contingent consideration, potential cash payment			2,500
Business acquisition contingent consideration cumulative paid	$ 974
Aerostar [Member] | Vista Research [Member]
Business Combination, Contingent Consideration Arrangements [Abstract]
Business Acquisition, Date of Acquisition Agreement	Jan. 6, 2012
Contingent Consideration Term in Years	7 years
Contingent consideration, potential cash payment			15,000
Business acquisition contingent consideration cumulative paid	$ 1,783
Engineered Films [Member] | CLI [Member]
Business Combination, Contingent Consideration Arrangements [Abstract]
Business Acquisition, Effective Date of Acquisition Agreement	Sep. 1, 2017
Contingent Consideration Term in Years	3 years
Contingent consideration, potential cash payment			$ 2,000
Business acquisition contingent consideration cumulative paid	$ 0

Goodwill, Long-lived Assets a46

Goodwill, Long-lived Assets and Other Intangibles Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Goodwill [Line Items]
Goodwill impairment loss	$ 0	$ 0
Long-lived asset impairment loss	0	$ 259
Goodwill [Roll Forward]
Goodwill Beginning balance	46,710
Goodwill, Written off Related to Sale of Business Unit	(103)
Goodwill, Foreign Currency Translation Gain (Loss)	(78)
Goodwill Ending balance	46,529
Applied Technology [Member]
Goodwill [Roll Forward]
Goodwill Beginning balance	12,741
Goodwill, Written off Related to Sale of Business Unit	0
Goodwill, Foreign Currency Translation Gain (Loss)	(78)
Goodwill Ending balance	12,663
Engineered Films [Member]
Goodwill [Roll Forward]
Goodwill Beginning balance	33,232
Goodwill, Written off Related to Sale of Business Unit	0
Goodwill, Foreign Currency Translation Gain (Loss)	0
Goodwill Ending balance	33,232
Aerostar [Member]
Goodwill [Roll Forward]
Goodwill Beginning balance	737
Goodwill, Written off Related to Sale of Business Unit	(103)
Goodwill, Foreign Currency Translation Gain (Loss)	0
Goodwill Ending balance	$ 634

Goodwill, Long-lived Assets a47

Goodwill, Long-lived Assets and Other Intangibles Long-lived Assets and Other Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Jan. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Long-lived asset impairment loss	$ 0	$ 259
Finite-Lived Intangible Assets, Gross	24,762		$ 24,795
Finite-Lived Intangible Assets, Accumulated Amortization	(14,947)		(14,211)
Finite-Lived Intangible Assets, Net	9,815		10,584
Technology-Based Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	7,260		7,290
Finite-Lived Intangible Assets, Accumulated Amortization	(7,046)		(6,996)
Finite-Lived Intangible Assets, Net	214		294
Customer-Related Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	13,245		13,264
Finite-Lived Intangible Assets, Accumulated Amortization	(5,400)		(4,834)
Finite-Lived Intangible Assets, Net	7,845		8,430
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	4,257		4,241
Finite-Lived Intangible Assets, Accumulated Amortization	(2,501)		(2,381)
Finite-Lived Intangible Assets, Net	1,756		$ 1,860
AgEagle Aerial Systems [Member] | Applied Technology [Member] | Other Nonoperating Income (Expense) [Member]
Finite-Lived Intangible Assets [Line Items]
Equity Method Investment, Other than Temporary Impairment	0	72
AgEagle Aerial Systems [Member] | Applied Technology [Member] | Customer-Related Intangible Assets [Member] | Operating Income (Loss) [Member]
Finite-Lived Intangible Assets [Line Items]
Long-lived asset impairment loss	$ 0	$ 259

Employee Postretirement Benef48

Employee Postretirement Benefits Employee Postretirement Benefits (Details) - Other Postretirement Benefit Plans, Defined Benefit [Member] - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 7	$ 22
Interest cost	79	82
Amortization of actuarial losses	32	30
Amortization of unrecognized prior service cost (Credit)	(40)	(40)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ 78	$ 94

Warranties (Details)

Warranties (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Product Warranty Accrual [Roll Forward]
Beginning balance	$ 1,163	$ 1,547
Change in warranty provision	157	1,377
Settlements made	(223)	(519)
Ending balance	$ 1,097	$ 2,405

Financing Arrangements (Details

Financing Arrangements (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 15, 2015
Line of Credit Facility [Line Items]
Debt Instrument, Covenant Compliance	The Company is in compliance with all covenants as of April 30, 2018.
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
Borrowing outstanding under line of credit	$ 0	$ 0
Remaining borrowing capacity under the line of credit	$ 124,536

Financing Arrangements Unamorti

Financing Arrangements Unamortized debt Issuance costs (Details) - USD ($) $ in Thousands		Apr. 30, 2018	Jan. 31, 2018
Line of Credit Facility [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Net	[1]	$ 215	$ 242
[1]	Unamortized debt issuance costs are reported as "Other assets" in the Consolidated Balance Sheets.

Financing Arrangements Letters

Financing Arrangements Letters of Credit Outstanding (Details) - USD ($) $ in Thousands		Apr. 30, 2018	Apr. 30, 2017
Line of Credit Facility [Line Items]
Letters of Credit Outstanding, Amount	[1]	$ 514	$ 1,097
Wells Fargo Bank, N.A. [Member]
Line of Credit Facility [Line Items]
Letters of Credit Outstanding, Amount		$ 50	$ 50
[1]	All of these LOC are outstanding under the Credit Agreement except one LOC for $50

Commitments and Contingencies (

Commitments and Contingencies (Details) - Charitable Gift [Member] - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Jan. 31, 2018
Loss Contingencies [Line Items]
Long-term Purchase Commitment, Amount	$ 5,000
Selling, General and Administrative Expenses [Member]
Loss Contingencies [Line Items]
Loss Contingency Accrual	4,503	$ 0
Accrued Liabilities [Member]
Loss Contingencies [Line Items]
Loss Contingency, Accrual, Current	1,394	0
Other Noncurrent Liabilities [Member]
Loss Contingencies [Line Items]
Loss Contingency, Accrual, Noncurrent	$ 3,109	$ 0

Income Tax (Details)

Income Tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	35.00%
Effective Income Tax Rate Reconciliation, Percent	18.60%	31.40%
Other Tax benefit (expense)	$ 243	$ (479)

Dividends and Treasury Stock (D

Dividends and Treasury Stock (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Jan. 31, 2015
Stockholders' Equity Note [Abstract]
Stock Repurchase Program, Authorized Amount	$ 75,000	$ 50,000	$ 40,000
Shares repurchased, Treasury Stock	0	0
Payments for Repurchase of Common Stock	$ 0	$ 0
Unpaid repurchases of common stock	0	$ 0
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 27,959

Dividends and Treasury Stock Di

Dividends and Treasury Stock Dividends paid (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Apr. 30, 2018	Apr. 30, 2017
Stockholders' Equity Note [Abstract]
Payments of Ordinary Dividends, Common Stock	[1]	$ 4,658	$ 4,691
Cash dividends paid per common share (in dollars per share)		$ 0.13	$ 0.13
Dividends Payable		$ 0	$ 0
[1]	There were no declared and unpaid shareholder dividends at April 30, 2018 or 2017.

Share Based Compensation (Detai

Share Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Cost of Sales [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-based Compensation Expense	$ 80	$ 58
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-based Compensation Expense	31	37
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-based Compensation Expense	676	696
Operating Income (Loss) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost	$ 787	$ 791

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands		3 Months Ended
		Apr. 30, 2018	Apr. 30, 2017
Segment Reporting Information [Line Items]
Net sales		$ 111,129	$ 93,535
Operating income		21,531	18,219
Administrative and general expenses		(10,403)	(5,370)
Applied Technology [Member]
Segment Reporting Information [Line Items]
Net sales		40,430	40,490
Operating income	[1]	15,948	13,453
Engineered Films [Member]
Segment Reporting Information [Line Items]
Net sales	[2]	59,992	43,555
Operating income	[1]	13,196	8,720
Engineered Films [Member] | Hurricane Recovery Film [Member]
Segment Reporting Information [Line Items]
Net sales		8,919	0
Aerostar [Member]
Segment Reporting Information [Line Items]
Net sales		10,901	9,606
Operating income	[1]	2,805	1,418
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	[3],[4]	(194)	(116)
Operating income	[4]	(15)	(2)
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Operating income		31,934	23,589
CLI [Member] | Engineered Films [Member]
Segment Reporting Information [Line Items]
Net sales		$ 7,744	$ 0
[1]	At the segment level, operating income 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]	Fiscal year 2019 Net sales includes $7,744 in net sales related to the CLI asset acquisition further described in Note 6 "Acquisitions and Divestitures of and Investments in Businesses and Technologies", and $8,919
[3]	Intersegment sales for both fiscal 2019 and 2018 were primarily sales from Engineered Films to Aerostar.
[4]	Intersegment sales for both fiscal 2019 and 2018 were primarily sales from Engineered Films to Aerostar.