Robbins & Myers Inc. Reports Operating Results (10-K)

Author's Avatar
Oct 26, 2010
Robbins & Myers Inc. (RBN, Financial) filed Annual Report for the period ended 2010-08-31.

Robbins & Myers Inc. has a market cap of $926.14 million; its shares were traded at around $28.86 with a P/E ratio of 26.27 and P/S ratio of 1.58. The dividend yield of Robbins & Myers Inc. stocks is 0.6%. Robbins & Myers Inc. had an annual average earning growth of 3.1% over the past 10 years.RBN is in the portfolios of John Keeley of Keeley Fund Management, John Buckingham of Al Frank Asset Management, Inc., Mario Gabelli of GAMCO Investors, Chuck Royce of Royce& Associates, Bruce Kovner of Caxton Associates.

Highlight of Business Operations:

On October 6, 2010, the Company, Triple Merger I, Inc., a Delaware corporation and wholly-owned subsidiary of the Company, Triple Merger II, Inc., a Delaware corporation and wholly owned subsidiary of the Company, and T-3 Energy Services, Inc., a Delaware corporation (T-3), entered into an Agreement and Plan of Merger (the Merger Agreement). Under the terms of the transaction, which has been unanimously approved by the Boards of Directors of both the Company and T-3, T-3 stockholders will receive 0.894 common shares of the Company, without par value, plus $7.95 in cash, without interest, for each share of common stock of T-3, par value $0.001 per share, they own. Consummation of the transaction is subject to customary closing conditions, including among others, obtaining certain regulatory approvals and approval of the Companys shareholders and the stockholders of T-3.

Sales, Marketing and Distribution. We sell our rotors and stators for hydraulic drilling power sections through a direct sales force. We sell our tubing wear prevention products, down-hole pump systems, wellhead equipment, closure products and industrial pumps through major distributors as well as our direct sales force and service centers in key oilfield locations worldwide. Industrial mixers and agitation equipment products are primarily sold through manufacturers representatives. Backlog at August 31, 2010 was $58.1 million, compared with $35.1 million at August 31, 2009.

Sales, Marketing and Distribution. We primarily manufacture, market, sell and service glass-lined reactors, storage vessels and thermal and other fluid processing systems through our direct sales and service force, as well as manufacturers representatives in certain geographic markets. Backlog at August 31, 2010 was $78.7 million compared with $59.7 million at August 31, 2009.

Sales, Marketing and Distribution. We sell Romaco products worldwide through an extensive network of manufacturers representatives and third party distributors which we supplement with our direct sales and service centers in certain strategic markets. Backlog at August 31, 2010 was $38.3 million compared with $40.1 million at August 31, 2009. The 2009 backlog included a $9 million order from fiscal 2006 that was cancelled in the second quarter of fiscal 2010.

Our total order backlog was $175.1 million at August 31, 2010 compared with $135.0 million at August 31, 2009. We expect to ship substantially all of our backlog during the next 12 months.

During fiscal 2010, we spent approximately $7.0 million on research and development activities compared with $6.7 million in fiscal 2009 and $6.5 million in fiscal 2008. These amounts do not include significant engineering development costs incurred in conjunction with fulfilling custom customer orders and executing customer projects.

Read the The complete Report