Robbins & Myers Reports Third Quarter and Nine Months

Results Dayton, Ohio (PROTEXT) - Robbins & Myers, Inc. (NYSE: RBN)announced today that sales and earnings for the third quarterended May 31, 1999 were better than expectations and also reflectimprovement over second quarter results. Sales for the third quarter were $103.8 million compared to$112.7 million reported for the same period of fiscal 1998.Operating income was $10.3 million for the quarter and $16.3million for the fiscal 1998 third quarter. Net income for thequarter was $4.4 million and $8.1 million for fiscal 1999 andfiscal 1998, respectively. Third quarter earnings per share on afully diluted basis were $.37 and $.63 for the third quarter oflast fiscal year. Year-to-date sales for fiscal year 1999 were $297.0 millioncompared to $325.2 million for fiscal year 1998. Operating incomefor the first nine months was $23.7 million, which included the$5.0 million one-time charge recorded in the second quarterprimarily for the closure of its Fairfield, Californiamanufacturing facility. For the same period fiscal 1998,operating income was $46.6 million. Nine months net income of$8.2 million compares to $24.2 million reported for the sameperiod last fiscal year. Fully diluted earnings per share for thenine months were $.74 ($.99 before the one-time plant closurecharge). Fiscal 1998 fully diluted earnings per share for thefirst nine months were $1.88. Gerald L. Connelly, President and Chief Executive Officer ofRobbins & Myers, Inc., said, "We are pleased with our performancefor the quarter. Sales and earnings showed positive improvementin a very challenging environment. The work stoppage at our MoynoIndustrial Products Springfield, Ohio facility, which beganFebruary 1, 1999, continued through early April affecting thirdquarter results as well as the second quarter. Consolidation ofour two businesses serving the oil and gas sector is proceedingas planned. The overall improvement in quarterly earningsreflects the cost-control initiatives undertaken early in thecurrent down cycle." Connelly further stated, "During the quarter we witnessedcontinued softness in the specialty chemical and the oil and gassectors. However, order activity has remained stable the last twoquarters thus indicating a bottoming of this current down cycle.Although currently there are no signs of an immediate pickup inspecialty chemicals, we are seeing the first signs of recovery inthe oil and gas sector. We are optimistic that the Company willachieve current analysts' estimates for the fiscal year. Robbins& Myers is well positioned to maximize the leverage of a lowercost structure when our major markets rebound." 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 BALANCE SHEET (Unaudited) (in thousands)

May 31, 1999 May 31,1998 ASSETS

Current Assets

Cash and cash equivalents

$10,508$8,430

Accounts receivable

71,02476,075

Inventories

55,80863,014

Other current assets

9,4402,966

Deferred taxes

9,6576,818

Total Current Assets

156,437157,303 Goodwill & Other Intangible Assets, Net

215,265219,356 Other Assets

5,1584,785 Property, Plant & Equipment, Net

114,416118,704

Total

$491,276$500,148 LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities

Accounts payable

$26,052$25,365

Accrued expenses

51,36053,402

Current portion of long-term debt

3,9903,426

Total Current Liabilities

81,40282,193 Long-Term Debt - Less Current Portion

195,989214,003 Other Long-Term Liabilities

59,79453,393 Shareholders' Equity

154,091150,559

Total

$491,276$500,148 ROBBINS & MYERS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED INCOME STATEMENT

(Unaudited)

Three Months Ended

Nine Months Ended

May 31, May 31, May 31, May 31, (in thousands, except

1999

1998

1999

1998

per share data) Net sales

$103,829 $112,708 $296,971 $325,238 Cost of sales

68,979

71,506 196,936(a) 205,983 Gross profit

34,850

41,202 100,035

119,255 Operating expenses

22,299

22,808 65,863

67,809 Amortization expense

1,984

2,114

5,874

5,846 Other expense (income)

284

(30)

4,569(a) (1,018) Income before interest

and income taxes

10,283

16,310 23,729

46,618 Interest expense

3,175

4,039 10,329

9,921 Income before income

taxes

7,108

12,271 13,400

36,697 Income taxes

2,417

4,173

4,557

12,477 Minority interest,

net of taxes

275

--

680

-- Net income

$4,416

$8,098 $8,163

$24,220 Net Income Per Share:

Basic

$0.40

$0.73

$0.75

$2.20

Diluted

$0.37

$0.63

$0.74

$1.88 Weighted Average Common Shares Outstanding:

Basic

10,938

11,064 10,929

11,018

Diluted

13,521

13,900 13,537

13,896 Unfilled Orders

$84,860 $100,403 $84,860 $100,403 (a) -- In the nine month period of fiscal 1999, cost of salesand other expense include one-time charges of $400,000 and$4,600,000, respectively, primarily for the closure of theCompany's Fairfield, California Manufacturing Facility. 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. otsOriginal Text Service: Robbins & Myers, Inc. Internet:http://www.newsaktuell.de Contact: Hugh E. Becker, VicePresident, Investor Relations of Robbins & Myers, Inc., (USA)937-225-3335 Web site: http://www.robn.com

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