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Robbins & Myers (RBN:NYSE) Up 20% on Surprise Earnings

Posted June 30, 2008

“Both the quarterly results and the full-year guidance were a surprise to analysts, who predicted a modest rise in the quarter and for the full-year guidance. And with the dramatic earnings increase, RBN stock is up 20% .” — Stephanie Grimmett

by Stephanie Grimmett

Baltimore – (TFN): Specialty engineering company Robbins & Myers (RBN:NYSE) has gained 20% today on its fiscal third quarter results. The company, which makes fluid processing products, among other specialized equipment, doubled its earnings year-over-year, from $13.2 million last year to $26.5 million this year (or from $0.39 per share to $0.76 per share).

Sales grew 17% compared to the third quarter of 2007. Robbins & Myers also saw higher earnings when obligations expired on two product lines the company sold a couple of years ago. And the company increased its full-year guidance from $1.93-$2.03 per share to $2.26-$2.31 per share.

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Both the quarterly results and the full fiscal year guidance were a surprise to analysts, who predicted a modest rise in the quarter and in full-year guidance from the company. And with the dramatic earnings increase, RBN stock is up 20% as of 1 p.m. EST.

According to the company, the fiscal fourth quarter won’t see earnings increase as much as they did in the third, but investors can look forward to $0.62-$0.67 earnings per share in the quarter.

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Posted by Stephanie Grimmett · Filed Under US Stocks and Markets 

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