NovAtel to Supply GNSS Technology to Raven Industries for Precision Ag Products

NovAtel Inc., Calgary, Alberta, Canada, and Raven Industries, Sioux Falls, South Dakota, have announced a new strategic partnership that will see NovAtel’s GNSS positioning technology integrated into Raven’s line of precision agriculture products.

NovAtel Inc., Calgary, Alberta, Canada, and Raven Industries, Sioux Falls, South Dakota, have announced a new strategic partnership that will see NovAtel’s GNSS positioning technology integrated into Raven’s line of precision agriculture products.

Paul Welbig, director of business development for Raven Industries Applied Technology, said of the agreement, “From entry-level, low-cost positioning right through to the most demanding RTK [real-time kinematic] positioning needs, Raven customers will benefit greatly by this strategic agreement.”

Founded in 1978, Raven has been involved in the emergence of precision agriculture, with a product line ranging from field computers to boom controls, GPS guidance and steering systems.

Earlier this year, the company signed a new partner in China, BDStar Navigation Co., Ltd., which will be the exclusive distributor in China for Raven precision ag products, including SmarTrax RTK and Cruizer II.

In its most recent annual report released March 10, Raven announced record sales and earnings for the fourth quarter and fiscal year ended January 31, 2011. For the full year, sales reached $314.7 million, a 32 percent increase from $237.8 million in fiscal 2010. Net income for the year of $40.5 million was 42 percent above the prior year’s $28.6 million. Return on sales improved to 12.9 percent from 12.0 percent.

For the fourth quarter, sales increased 27 percent to $70.7 million from $55.8 million in the same period a year ago.

Annual revenues for the Applied Technology Division, which includes Raven’s precision ag business, increased 16 percent to $100.1 million, compared with $86.2 million for fiscal 2010.