SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 5, 2002
ROBBINS & MYERS, INC.
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(Exact name of Registrant as specified in its charter)
Ohio 0-288 31-0424220
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(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
1400 Kettering Tower, Dayton, OH 45423
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(Address of principal executive offices) (Zip code)
937-222-2610
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(Registrant's telephone number including area code)
Not applicable
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(Former name and former address, if changed since last report)
ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE
On February 5, 2002, Robbins & Myers, Inc. issued the following press release:
ROBBINS & MYERS REVISES EARNINGS OUTLOOK
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FOR THE QUARTER AND FISCAL YEAR
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DAYTON, OHIO, February 5, 2002 . . . Robbins & Myers, Inc. today announced that
it anticipates earnings for the second quarter ending February 28, 2002 to be
approximately 10% below earlier estimates. The decline is due to
weaker-than-expected market conditions in the Company's energy business, coupled
with the continuing recession environment in specialty chemicals and general
industrial markets.
Gerald L. Connelly, President and Chief Executive Officer of Robbins & Myers,
Inc., said, "Previous estimates were based on a stronger energy market than we
have seen in recent months. Orders in our Energy Segment for this quarter may
decline as much as 20% from the same period last year. On the positive side, we
do not anticipate a sequential decline from our first fiscal quarter order level
indicating this down cycle appears to have bottomed. The continuing depressed
conditions in specialty chemicals and general industrial markets, which have
been present in North America, are beginning to appear in Europe. The Asian
market, however, remains a bright spot. We have taken steps in the second
quarter to adjust globally for weakness in specialty chemicals. The actions are
expected to result in non-recurring expenses which will reduce earnings by
approximately $.02 per share."
Connelly continued, "The Romaco acquisition continues to perform in line with
our expectations. Recent strong growth in the secondary pharmaceutical market is
forecasted to remain positive for the balance of our fiscal year. The Company's
performance for this fiscal year will depend on indications of improvement in
our key end markets during the next few months. Currently, we anticipate diluted
earnings per share for fiscal 2002 will be down from earlier estimates and in
the $1.50 to $1.70 range. Robbins & Myers remains well positioned for the
recovery which many economic indicators suggest will begin later this calendar
year."
Robbins & Myers, Inc. is a leading global manufacturer and marketer of superior
quality critical equipment for those industries dedicated to improving the
quality of life: pharmaceuticals, energy, specialty chemicals and water and
wastewater treatment. Headquartered in Dayton, Ohio, the Company has facilities
in the United States, Canada, Europe, Brazil, Mexico, Singapore, Venezuela and
joint ventures in Australia, China, France, India, and Taiwan.
In addition to historical information, this release contains forward-looking
statements, identified by use of words such as "expects," "anticipates,"
"estimates," "projects" and similar expressions. These statements reflect the
Company's expectations at the time that this release was issued. Actual events
and results may differ materially from those described in the forward-looking
statements. Among the factors that could cause material differences are the
failure of any recovery in capital expenditures to emerge in the specialty
chemical and general industrial markets, a significant decline in capital
expenditures in the pharmaceutical industries, a major decline in oil and
natural gas
prices, foreign exchange rate fluctuations, continued availability of acceptable
acquisition candidates and general economic conditions that can affect demand in
the process industries. The Company undertakes no obligation to update or revise
any forward-looking statement.
The Company's common stock trades on the New York Stock Exchange under the
symbol RBN.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Robbins & Myers, Inc.
Date: February 8, 2002 By:/s/ Kevin J. Brown
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Kevin J. Brown
Vice President of Finance & Chief
Financial Officer