The Process Solutions segment reported sales of $72 million in the first quarter, an increase of 2%, and orders of $74 million, a 5% decrease. Excluding the effects of currency exchange rates and an acquisition, organic sales increased 4% and organic orders increased 6%. Several orders for large chemical market projects were secured during the quarter. The segment earned $7 million of EBIT in the first quarter of 2009, and EBIT margins decreased 170 basis points to 9.5% due to an unfavorable product mix, higher project costs and increased operating expenses.
The Romaco segment reported first quarter sales of $23 million, a 23% decrease, and orders of $27 million, down 21%. Excluding the impact from currency exchange rates, organic sales decreased 17% and orders declined 8% on weakness in pharmaceutical markets and order delays. Romaco reported an EBIT loss of $1.4 million during the first quarter of 2009, including $0.5 million of restructuring costs, as compared with EBIT of $1.5 million in the prior year.
Conference Call to Be Held Tomorrow, January 8 at 10:00 AM (EST)
A conference call to discuss these results has been scheduled for 10:00 AM
ET Thursday, January 8, 2009, which can be accessed at http://www.robn.com or
by dialing 800-599-9795 (US/Canada) or +1-617-786-2905, using conference ID
#14345248. Replays of the call can be accessed by dialing 888-286-8010
(U.S./Canada) or +1-617-801-6888, both using replay ID # 25121411.<
|SOURCE Robbins & Myers, Inc.|
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