Robbins & Myers Announces First Quarter Results

Dayton, Ohio (PROTEXT) - Robbins & Myers, Inc. (NYSE: RBN)today reported financial results for the first quarter endedNovember 30, 1999 in line with expectations. Sales were $93.5 million for the first quarter of fiscal 2000versus $98.3 million reported for the same period of fiscal 1999.First quarter IBIT was $8.5 million compared to $9.7 million forthe first quarter fiscal 1999. First quarter net income was $3.1million and $4.0 million for fiscal 2000 and fiscal 1999,respectively. Earnings per share on a diluted basis were $.27compared to $.34 for last fiscal year. Gerald L. Connelly, President and Chief Executive Officer, ofRobbins & Myers, Inc., said, "Results for the quarter, whilelower than last year, were in line with expectations. Weanticipated a weak first quarter due to the extreme softness inorder activity experienced in our primary end markets during thesecond half of last fiscal year and continuing one-time costsassociated with last year's plant closure in our Energy Systemssegment. " Connelly continued, "On the positive side during the quarter,we saw orders increase approximately 20% to $107.5 million overthe fourth quarter level. Backlog grew from $74.3 million toapproximately $88 million. The price of oil and natural gascontinues to remain strong thus signaling a potential pick up incapital spending for this sector during calendar 2000. Improvingcapacity utilization rates in the chemical process industries isanother encouraging indicator. The strengthened order activitythis quarter was across all major product platforms; ReactorSystems, Energy Systems, Industrial Mixing and Industrial Pumps.We remain optimistic that the Company will see improving resultsin the second half of the fiscal year." The Company also announced the following organizationalchanges: Stephen R. Ley, Vice President, Finance, and ChiefFinancial Officer has been appointed President, Chemineer, Inc. awholly owned subsidiary of Robbins & Myers, Inc. effectiveJanuary 1, 2000; Kevin J. Brown has been elected Vice Presidentand Chief Financial Officer by the Board of Directors succeedingMr. Ley and Daniel W. Duval, Vice Chairman, will retire December31, 1999 following 13 years of service with the Company. Mr.Duval will also resign as a member of the Robbins & Myers Boardof Directors. Robbins & Myers, Inc. is an international manufacturer andmarketer of superior quality fluid management products andsystems serving the process industries including: specialtychemicals, pharmaceuticals, oil and gas exploration, productionand pipeline, water treatment, food and beverage, pulp and paper,and mining. Headquartered in Dayton, Ohio, the Company hasfacilities in the United States, Canada, Europe, Brazil, Mexico,Singapore and joint ventures in China, India, and Taiwan. In addition to historical information, this release containsforward- looking statements and performance trends which aresubject to certain risks and uncertainties that could causeactual results to differ materially from these statements andtrends. Such factors include, but are not limited to, asignificant decline in capital expenditures in specialtychemicals and pharmaceutical industries, a major decline in oiland natural gas prices, foreign exchange rate fluctuations,continued availability of acceptable acquisition candidates andgeneral economic conditions that can affect demand in the processindustries. The Company's common stock trades on the New York StockExchange under the symbol RBN.

ROBBINS & MYERS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED INCOME STATEMENT

(Unaudited)

Three Months Ended

November 30, November30, (in thousands, except per share data)

1999

1998 Sales

$93,499 $98,266 Cost of sales

62,047

64,764 Gross profit

31,452

33,502 Operating expenses

20,844

22,318

Total

10,608

11,184 Amortization expense

1,982

1,860 Other

161

(351) Income before interest and income taxes

8,465

9,675 Interest expense

3,247

3,540 Income before income taxes

and minority interest

5,218

6,135 Income tax expense

1,879

2,086 Minority interest

273

- Net income

$3,066

$4,049 Net Income Per Share:

Basic

$0.28

$0.37

Diluted

$0.27

$0.34 Weighted Average Common Shares Outstanding:

Basic

10,934 10,935

Diluted

13,520 13,593 Backlog

$88,333 $99,032 Orders

$107,489 $102,510 Note: All known adjustments have been reflected in thisreport,

but the information is subject to annual audit and year-end

adjustments which are estimated to be insignificant.

ROBBINS & MYERS, INC. AND SUBSIDIARIES

CONDENSED BUSINESS SEGMENT INFORMATION

(Unaudited)

Three Months Ended

November 30, November 30, (in thousands)

1999

1998 Sales

Process Systems

$75,878

$81,320

Energy Sytems

17,621

16,946

Total

$93,499

$98,266 IBIT Before Amortization and Other

Process Systems

$10,125

$11,037

Energy Sytems

2,803

2,277

Corporate and Eliminations (2,320)

(2,130)

Total

$10,608

$11,184 IBIT

Process Systems

$8,811

$10,103

Energy Sytems

2,151

1,785

Corporate and Eliminations (2,497)

(2,213)

Total

$8,465

$9,675

ROBBINS & MYERS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEET

(Unaudited) (in thousands)

November 30, 1999 August 31, 1999 ASSETS Current Assets:

Cash and cash equivalents

$8,372

$8,901

Accounts receivable

77,426

74,900

Inventories

55,572

53,747

Other current assets

11,337

12,824

Deferred taxes

5,433

5,470

Total Current Assets

158,140

155,842

Goodwill & Other Intangible

Assets, Net

212,841

214,100

Other Assets

7,886

6,641

Property, Plant &

Equipment, Net

113,926

117,269

Total

$492,793

$493,852 LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities:

Accounts payable

$25,745 $27,949

Accrued expenses

50,630 54,935

Current portion of

long-term debt

618

121

Total Current Liabilities

76,993 83,005

Long-Term Debt - Less Current

Portion

193,823 191,151

Other Long-Term Liabilities

66,220 65,470

Shareholders' Equity

155,757 154,226

Total

$492,793 $493,852 otsOriginal Text Service: Robbins & Myers, Inc. Internet:http://www.newsaktuell.de Contact: Hugh E. Becker, VicePresident, Investor Relations of Robbins & Myers Tel.: (USA)937-225-3335 Web site: http://www.robn.com

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