Robbins & Myers Falls On Weak Quarter, Outlook

HARTFORD, Conn. (AP) — Robbins & Myers Inc. shares fell Tuesday, a day after quarterly profits plunged 58 percent and the equipment maker issued a disappointing outlook as the recession continues to hurt sales across its businesses.

BMO Capital Markets analyst Charles Brady said the number of gas rigs has stabilized recently, but are still down more than 50 percent year over year. The lower rig counts contributed to the order declines, he said.

Shares of Robbins & Myers, which make equipment for energy, chemicals and industrial producers, fell 81 cents, or 3.5 percent, to $22.35 in afternoon trading.

The Dayton, Ohio, company reported on Monday that it fourth-quarter results surpassed Wall Street expectations, but its outlook for fiscal 2010 fell short of analysts' estimates. Quarterly revenue dropped 32 percent.