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

& Myers continued its strong cash flow performance during the quarter, generating $27 million of cash from operating activities.

"Throughout our fiscal year we have benefited from order growth, resulting in record backlog levels as the year progressed," said Peter C. Wallace, President and Chief Executive Officer of Robbins & Myers, Inc. "In our third quarter we were able to convert some of the backlog into sales, helping to fuel the 17% year-on-year increase in sales. The higher sales level, in conjunction with an improved cost structure and marketing focus, has contributed to our record earnings."

Mr. Wallace further commented, "Across the entire organization we have created a more disciplined approach to managing the business, reinforcing our developing culture of continuous improvement. The end result is a company that is delivering record profits, as well as record cash flow as we more effectively manage capital investment and working capital."

The Company announced that it is increasing its full fiscal year 2008 DEPS guidance from $1.93-$2.03 to $2.26-$2.31, which includes $0.16 of benefits from asset sales during the first nine months of the year. The Company also established fourth quarter fiscal 2008 DEPS guidance of $0.62-$0.67, as compared with actual results of $0.55 in the fourth quarter of 2007, which included a $0.03 gain from a property sale.

Third Quarter Results by Segment

All comparisons are made against the comparable year-ago quarterly period unless otherwise stated.

The Fluid Management segment reported third quarter sales of $84 million, a 12% increase, and orders of $87 million, a 16% increase. Excluding currency exchange rate effects, sales increased 9% and orders improved 12% on continued strength in energy markets and new product contributions. EBIT grew 23% to $25 million, and EBIT margins expanded 250 basis points to 30.2%.

The Process Solutions segment reported sales of $81 million in th
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SOURCE Robbins & Myers, Inc.
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