Robbins & Myers sale may not close until February

Published on NewsOK Modified: December 22, 2012 at 3:14 pm •  Published: December 22, 2012
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Robbins & Myers reported net income of $32 million, or 76 cents per share, for the period ended Nov. 30. That was down from earnings of $35.3 million, or 77 cents per share, in the year-ago period, when the company had a greater number of shares outstanding.

The company booked acquisition-related costs of 5 cents per share in the latest quarter.

Sales rose 8 percent to $257.3 million, but the cost of sales grew at a faster pace of nearly 15 percent, to $162.5 million.

Analysts surveyed by FactSet had expected earnings of 85 cents per share on revenue of $249.6 million.

Messages left with a Robbins & Myers spokesman on Saturday to comment on the weekend timing of the company's earnings release were not immediately returned. It is unusual for companies to release financial results on weekends.

Shares of Robbins & Myers closed on Friday at $59.50.

Under the proposed all-cash acquisition by National Oilwell Varco, Robbins & Myers shareholders would receive $60 per share.