DAYTON, Ohio, April 2, 2008 /PRNewswire-FirstCall/ -- Robbins & Myers, Inc. (NYSE: RBN) today announced that certain contingency obligations relating to the sale of two of its Romaco product lines in fiscal year 2006 expired on March 31, 2008. As a result, the Company expects to recognize an additional pretax gain on that sale of approximately 3.5 million euros, or $5.4 million at current exchange rates, in its third fiscal quarter ending May 31, 2008.
This gain, which was not included in the Company's previously issued earnings guidance, is expected to increase diluted earnings per share (DEPS) for its third quarter and full year of fiscal 2008 by approximately $0.11 per share. Therefore, the Company increased its third quarter fiscal 2008 DEPS guidance from $0.42-$0.47 to $0.53 to $0.58 and its full year fiscal 2008 guidance from $1.82-$1.92 to $1.93-$2.03.
About Robbins & Myers
Robbins & Myers, Inc. is a leading supplier of engineered equipment and systems for critical applications in global energy, industrial, chemical and pharmaceutical markets.
In addition to historical information, this release contains forward- looking statements identified by use of words such as "expects," "anticipates," "believes," and similar expressions. These statements reflect management's current expectations and involve known and unknown risks, uncertainties, contingencies and other factors that could cause actual results, performance or achievements to differ materially from those stated. The most significant of these risks and uncertainties are described in our Form 10-K and Form 10-Q reports filed with the Securities and Exchange Commission and include, but are not limited to: a significant decline in capital expenditures in the specialty chemical and pharmaceutical industries; a major decline in oil and natural gas prices; foreign exchange rate fluctuations; work stoppages related to union negotiations; customer order cancellations; business disruptions caused by the implementation of business computer systems; our ability to comply with the financial covenants and other provisions of our financing arrangements; events or circumstances which result in an impairment of assets; the potential impact of U.S. and foreign legislation, government regulations, and other governmental action, including those relating to export and import of products and materials, and changes in the interpretation and application of such laws and regulations; the outcome of audit, compliance, administrative or investigatory reviews; and general economic conditions that can affect demand in the process industries. Except as otherwise required by law, we do not undertake any obligation to publicly update or revise these forward- looking statements to reflect events or circumstances after the date hereof.
|SOURCE Robbins & Myers, Inc.|
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