Robbins & Myers 4th-qtr Profit Falls 58 Percent

DAYTON, Ohio (AP) — Industrial equipment maker Robbins & Myers Inc. on Monday said its fiscal fourth-quarter profit plunged 58 percent as the recession hurt sales across all of its businesses.

Results came in ahead of Wall Street expectations, but the company also issued a forecast that fell short of analyst estimates, and shares fell sharply in aftermarket electronic trading.

For the three months ended Aug. 31, Robbins & Myers said net income fell to $12.8 million, or 39 cents per share, from $30.6 million, or 88 cents per share, in the year-earlier quarter. The per-share figures reflect a 5 percent drop in the number of outstanding shares year-over-year.

Revenue dropped 32 percent to $155.2 million, from $227.8 million last year.

Analysts polled by Thomson Reuters, on average, expected profit of 20 cents per share on revenue of $136.8 million.

Robbins & Myers said sales in its fluid management segment fell 39 percent to $55 million in the fourth quarter. Orders dropped 52 percent from the year earlier to $48 million.