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Local manufacturer boosts 2012 earnings outlook

Robbins & Myers posts gain.

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Staff and Wire Report Updated 12:56 AM Saturday, January 7, 2012

Beavercreek-based industrial products manufacturer Robbins & Myers Inc. reported net income of nearly $35.3 million, or 77 cents per diluted share, in the first quarter of the company’s fiscal year. That’s a 135 percent increase from nearly $15 million, or 44 cents per diluted share, in the same period of 2010.

However, the result is down slightly from net income of $35.4 million reported in the final quarter of the company’s fiscal 2011.

Consolidated sales were $237 million in the first quarter of fiscal 2012. That’s well over the nearly $141 million reported for the same quarter in 2010.

Citing strong demand from energy and fine chemical end markets, Robbins & Myers boosted its fiscal 2012 earnings prediction to a range of $3 to $3.20 per share from its previous prediction of $2.85 to $3.05 per share. Analysts expect a profit of $3.06 per share for the year.

The company added that it expects to post a second-quarter profit of 68 cents to 78 cents per share, citing costs related to seasonal holiday plant shutdowns and investments in personnel. Analysts expect a profit of 72 cents per share for the quarter.

Also Friday, the company said it will increase its quarterly dividend payment from 4.5 cents a share to 5 cents a share, payable Feb. 17 to shareholders of record as of Jan. 20.

With operations in Dayton and Springfield, Robbins & Myers makes engineered products for the energy, chemical, pharmaceutical and other industries.

The company’s shares (NYSE: RBN) closed Friday at $48.83, down $1.24 or 2.5 percent.

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