Robbins & Myers, Inc. reported net income of $8.1 million, or $0.25 per diluted share, in the third quarter of fiscal 2010, which ended 5/31/2010. The company earned net income of $10.2 million, or $0.31 per diluted share, in the same quarter of fiscal 2009.
Robbins & Myers, Inc. reported strong order flow during the third quarter of fiscal 2010. The company booked $159.1 million in orders during the quarter, up 34% from the $119 million of orders in the comparable quarter in fiscal 2009. The company’s backlog of contracted orders was at $160 million as of 5/31/2010.
Robbins & Myers, Inc. gave guidance for the fourth quarter of fiscal 2010 and full year. The company estimates that diluted earnings per share will range between $0.31 and $0.41, and full fiscal year 2010 diluted earnings per share will be between $0.87 and $0.97.
The management of Robbins & Myers, Inc. was optimistic about the current fiscal year trends, and noted improved demand in several of its businesses. Peter C. Wallace, the CEO of Robbins & Myers, Inc., said, “We are seeing improved customer demand across our portfolio of leading products and solutions. We are benefiting from recovering energy markets, and have seen notable sales increases in our product lines that support horizontal drilling activity for shale projects.”
Robbins & Myers, Inc. also improved its balance sheet during the quarter and reported $122.7 million in cash and cash equivalents, and less than $1 million in total debt.
For more information on the company, go to www.robn.com