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.
