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ROBBINS & MYERS REPORTS FIRST QUARTER GAINS, STOCK SPLIT, DIVIDEND INCREASE

 ROBBINS & MYERS REPORTS FIRST QUARTER GAINS,
 STOCK SPLIT, DIVIDEND INCREASE
 DAYTON, Ohio, Dec. 11 /PRNewswire/ -- Robbins & Myers, Inc. (NASDAQ: ROBN) today reported gains in both sales and net income from the first quarter ended Nov. 30, 1991.
 Sales for the quarter were $19.3 million, up 6.6 percent from the $18.1 million for the first quarter of 1991.
 Income from continuing operations was $2 million for the quarter, an increase of 5 percent over the $1.9 million for the same period in fiscal 1991. After recognizing the effect of stock dilution in the current quarter, earnings per share from continuing operations were $.77 per share, the same as the first quarter of 1991. The primary factor affecting this year's first quarter net income versus last year is an increase in the effective U.S. income tax rate from 13 percent to 26 percent due to utilizing most of the tax loss carryforward.
 "Order rates have begun to show some improvement over second half of fiscal '91. They are lower than the first quarter of last year due to a drop in the Oilfield Products Division," said Daniel W. Duval, president and chief executive officer. "This is a combination of unusually strong performance in the oilfield sector last year and a drop in Down Hole pump sales as new drilling programs for natural gas have all but reached a standstill.
 "The outlook remains cautious at this time," stated Duval. "Our single biggest concern remains the economy and the length of the current recession. We are well-positioned to take advantage of any pickup in the economy, particularly in the oil and gas recovery sector."
 The company also announced that the board of directors declared a distribution of common shares of the company on Jan. 31, 1992, resulting in a 2-for-1 stock split for shareholders of record on Jan. 10, 1992. The company cited this action is being taken to improve liquidity and is possible due to the strong performance of the stock price this past year.
 In addition, the board increased the annual cash dividend from $.30 to $.40 on a pre-split basis, a 33 percent increase. The increased quarterly dividend is payable Jan. 31, 1992 to shareholders of record Jan. 10, 1992. This marks the second year that Robbins & Myers has increased the dividend since reinstituting it in May 1989.
 Robbins & Myers, Inc. is an international manufacturer and marketer of superior quality fluids management products and systems for the process industries including waste water treatment, chemical, food, pharmaceutical, pulp and paper and oil and gas recovery. Headquartered in Dayton, Ohio, Robbins & Myers has facilities in the United States, Canada, Europe and Singapore.
 The company's shares are traded on the NASDAQ-NMS under the symbol ROBN.
 ROBBINS & MYERS, INC.
 FIRST QUARTER
 COMPARATIVE FINANCIAL HIGHLIGHTS
 Three Months Ended
 Nov. 30 Nov. 30
 From continuing operations: 1991 1990
 Net sales $19,336,000 $18,057,000
 Income before income taxes 2,691,000 2,279,000
 Income taxes 676,000 341,000
 Net income from continuing operations 2,015,000 1,938,000
 From discontinued operations:
 (Loss) from operations - net of
 income taxes 0 (408,000)
 Loss on disposal - net of
 income taxes 0 0
 Net income 2,015,000 1,530,000
 Primary and fully diluted earnings
 per share
 Income from continuing operations $0.77 $0.77
 Loss from discontinued operations $0.00 ($0.16)
 Total $0.77 $0.61
 Average common shares outstanding,
 including dilutive shares if
 material 2,614,000 2,499,000
 Unfilled orders $16,586,000 $23,612,000
 -0- 12/11/91
 /CONTACT: Hugh E. Becker, director of corporate relations for Robbins & Myers, Inc., 513-225-3335/
 (ROBN) CO: Robbins & Myers, Inc. ST: Ohio IN: MAC SU: ERN


KK -- CL015 -- 1471 12/11/91 12:30 EST
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Publication:PR Newswire
Date:Dec 11, 1991
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