UPDATE 1-Raven Industries Q1 profit tops Wall Street view

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May 19 (Reuters) - Industrial manufacturer Raven Industries Inc (RAVN.O) posted a higher-than-expected first-quarter profit, helped by strong sales at its Flow Controls division, sending its shares up as much as 22 percent.

However, the company said it does not expect second-quarter earnings and sales to show the same level of growth as in the first quarter, mainly due to seasonality in the agricultural products business.

First-quarter net income was $10.9 million, or 60 cents a share, compared with $8.5 million, or 47 cents a share, a year ago.

Sales rose 29 percent to $75.2 million.

Analysts on average expected the company to earn 52 cents a share, on revenue of $64.8 million, according to Reuters Estimates.

Sales at the Flow Controls unit, which accounted for about 46 percent of Raven's total revenue, rose 76 percent to $34.8 million. This unit makes precision products for agriculture.

Smaller Aerostar unit, which sells high-altitude research balloons and military parachutes, posted a 44 percent increase in sales.

Shares of the company were trading up $4.85 at $37.31 in morning trade on Nasdaq. (Reporting by Eric Yep in Bangalore; Editing by Vinu Pilakkott)