8-K 1 l01828ae8vk.htm ROBBINS & MYERS, INC. ROBBINS & MYERS, INC.
 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 2, 2003

Robbins & Myers, Inc.

Exact name of Registrant as specified in its charter)
         
Ohio   0-288   31-0424220

 
 
(State or other jurisdiction of
incorporation or organization)
  (Commission
File Number)
  (IRS Employer
Identification No.)
         
1400 Kettering Tower, Dayton, OH       45423  

     
 
(Address of principal executive offices)       (Zip code)

937-222-2610

(Registrant’s telephone number including area code)

Not applicable

(Former name and former address, if changed since last report)

 


 

Item 5. Other Events and Regulation FD Disclosure

In the Robbins & Myers, Inc. Annual Report on Form 10-K for the fiscal year ended August 31, 2002, there were certain non-GAAP financial measures presented. Following is a numerical reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measure:

                                                 
    2002   2001   2000   1999   1998   1997
   
 
 
 
 
 
Net Income
  $ 14,503     $ 19,631     $ 18,056     $ 11,849     $ 31,230     $ 28,866  
Plus depreciation
    20,028       16,161       16,293       16,861       15,846       10,793  
Plus amortization
    2,015       8,187       8,077       7,660       7,670       5,170  
Plus interest
    17,565       12,312       13,531       13,752       12,821       6,437  
Plus minority interest
    1,048       1,064       1,472       1,040       0       0  
Plus income taxes
    7,831       10,229       10,513       6,647       16,091       14,218  
 
   
     
     
     
     
     
 
EBITDA
  $ 62,990     $ 67,584     $ 67,942     $ 57,809     $ 83,658     $ 65,484  
 
   
     
     
     
     
     
 

Reconciliation of Free Cash Flow to Net Cash and Cash Equivalents Provided by Operating Activities (Cash Flow from Operations) per consolidated statement of cash flows:

                                                 
    2002   2001   2000   1999   1998   1997
   
 
 
 
 
 
Cash Flow from Operations
  $ 44,540     $ 30,984     $ 36,040     $ 39,463     $ 48,574     $ 35,246  
Less Capital expenditures, net of nominal disposals
    15,112       20,200       19,842       11,612       23,020       22,071  
 
   
     
     
     
     
     
 
Free Cash Flow
  $ 29,428     $ 10,784     $ 16,198     $ 27,851     $ 25,554     $ 13,175  
 
   
     
     
     
     
     
 

Reconciliation of Adjusted EBITA to Net Income per consolidated income statement:

                         
    2002   2001 2000  
   
 

 
Net income
  $ 14,503     $ 19,631     $ 18,056  
Plus interest
    17,565       12,312       13,531  
Plus minority interest
    1,048       1,064       1,472  
Plus income taxes
    7,831       10,229       10,513  
Plus amortization
    2,015       8,187       8,077  
Plus non-recurring charges related to Global Reorganization
    0       2,492       0  
Plus Fairfield plant closure costs
    0       0       409  
Less gain on sale of Fairfield building
    0       0       (918 )
Plus UGE long term receivable write-down
    0       0       500  
 
   
     
     
 
Adjusted EBITA
  $ 42,962     $ 53,915     $ 51,640  
 
   
     
     
 

 


 

Reconciliation of Adjusted EBITA to Income before interest and Income Taxes by operating segment:

                         
    Pharma-                
Fiscal 2002   cuetical   Industrial   Energy

 
 
 
Income before interest and income taxes
  $ 27,895     $ 5,279     $ 18,773  
Plus amortization
    432       452       331  
 
   
     
     
 
Adjusted EBITA
  $ 28,327     $ 5,731     $ 19,104  
 
   
     
     
 
                         
    Pharma-                
Fiscal 2001   cuetical   Industrial   Energy

 
 
 
Income before interest and income taxes
  $ 17,349     $ 8,445     $ 26,078  
Plus amortization
    1,962       3,294       2,150  
Plus non-recurring charges related to Global Reorganization
    244       2,148       0  
 
   
     
     
 
Adjusted EBITA
  $ 19,555     $ 13,887     $ 28,228  
 
   
     
     
 
                         
    Pharma-                
Fiscal 2000   cuetical   Industrial   Energy

 
 
 
Income before interest and income taxes
  $ 24,448     $ 12,007     $ 16,130  
Plus amortization
    1,928       3,280       2,105  
Plus Fairfield plant closure costs
    0       0       409  
Less gain on sale of Fairfield building
    0       0       (918 )
Plus UGE long term receivable write-down
    500       0       0  
 
   
     
     
 
Adjusted EBITA
  $ 26,876     $ 15,287     $ 17,726  
 
   
     
     
 

 


 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

     
    Robbins & Myers, Inc.
 
Date: July 2, 2003

  By:/s/ Kevin J. Brown

Kevin J. Brown
Vice President and Chief Financial Officer