Reuters: Global Markets: Robbins & Myers second quarter tops Street; shares up

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Robbins & Myers second quarter tops Street; shares up Mar 27th 2012, 21:43 Tue Mar 27, 2012 5:43pm EDT (Reuters) - Robbins & Myers Inc's (RBN.N) quarterly results topped market expectations, as the maker of oil and gas drilling equipment gained from strong demand, sending its shares up 8 percent after the bell. "We continue to see strong end-market demand in the energy sector, with any weakness attributable to low natural gas prices being offset with demand in the oil sector," Chief Executive Peter Wallace said in a statement. The company -- which serves the energy, pharmaceutical and industrial markets -- raised its full-year earnings forecast to between $3.40 and $3.60 per share from $3.00 to $3.20 per share. Analysts were expecting Robbins & Myers to earn $3.20 per share according to Thomson Reuters I/B/E/S. Second quarter net income attributable to the company rose to $38.1 million, or 84 cents a share, from $12.9 million, or 32 cents a share, a year ago. Analysts expected earnings of 75 cents a share. Sales rose 40 percent to $255.9 million, beating analysts' estimates of $238.8 million. Revenue from Robbins & Myers' larger energy services segment jumped 61 percent to $167.8 million. The Dayton, Ohio-based company's shares rose to $49.30 in extended trade. They closed at $45.83 on Tuesday on the New York Stock Exchange. (Reporting by Sagarika Jaisinghani in Bangalore; Editing by Joyjeet Das) Link this Share this Digg this Email Reprints

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