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Robbins & Myers Reports Record Third Quarter Results
Date:6/30/2008

DAYTON, Ohio, June 30 /PRNewswire-FirstCall/ -- Robbins & Myers, Inc. (NYSE: RBN) today reported diluted net earnings per share (DEPS) of $0.76 for its fiscal third quarter ended May 31, 2008, including $0.14 resulting from the previously-announced expiration of certain contingency obligations related to the sale of two product lines in March 2006. Excluding this benefit, DEPS increased 59% over the comparable prior year period to $0.62, primarily due to higher sales, operating improvements and a lower tax rate.

Third quarter fiscal 2008 sales increased 17% over the prior year third quarter to $201 million, and orders increased 10% to $205 million. Excluding the impact from acquired and disposed product lines and currency translation, sales increased 9%, with increases in all three business platforms, and orders increased 2%, led by strength in energy markets. The Company ended the quarter with record backlog of $268 million.

The Company reported third quarter 2008 earnings before interest, taxes and minority interest (EBIT) of $40 million. Excluding the $6 million benefit from the March 2006 product line sales, third quarter 2008 adjusted EBIT increased 47% over prior year third quarter results. The adjusted EBIT margin of 17.2% for the fiscal 2008 period represents an increase of 350 basis points over the prior year period, which resulted primarily from higher sales levels and operating improvements.

The Company realized $38 million of adjusted EBITDA in the current year third quarter. Adjusting for special items, including the benefit from the March 2006 product line sales, trailing twelve-month adjusted EBITDA grew to $132 million in the third quarter of 2008, 43% higher than the year-ago comparable figure. Robbins
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