8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934

Date of Report (Date of earliest event reported):   October 15, 2007

Robbins & Myers, Inc.

(Exact name of Registrant as specified in its charter)

Ohio	31-0424220
(State or other jurisdiction of incorporation)	(I.R.S. employer identification number)

51 Plum St.. Suite 260, Dayton ,OH	45440
(Address of principal executive offices)	(Zip Code)

(937) 458-6600

Registrant’s telephone number, including area code

1400 Kettering Tower, Dayton, OH 45423

(Former name or address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02   Results of Operations and Financial Condition

1)  On October 15, 2007, Robbins & Myers, Inc. (the “Company”) issued a press release announcing its financial results for the fourth quarter and fiscal year ended August 31, 2007. The text of the release is attached as Exhibit 99.1 to this Form 8-K.

In the press release, the Company uses various non-GAAP financial measures, including EBIT and EBITDA . EBIT is defined as net earnings plus (a) interest expense, (b) income taxes and (c) minority interest; and EBITDA is defined as net earnings plus (a) interest expense, (b) income taxes and (c) depreciation and amortization. We evaluate performance of our business segments and allocate resources based on EBIT; however, EBIT is not a measure of performance calculated in accordance with accounting principles generally accepted in the United States and should not be considered as an alternative to net income as a measure of our operating results. EBITDA as calculated by the Company is not necessarily comparable to similarly titled measures reported by other companies. In addition, EBITDA: (a) does not represent net income or cash flows from operations as defined by GAAP; (b) is not necessarily indicative of cash available to fund the Company’s cash flow needs; and (c) should not be considered as an alternative to net earnings, operating income, cash flows from operating activities or the Company’s other financial information determined under GAAP. The Company believes these measures are helpful to investors in assessing its performance and are important indicators of the operational strength and performance of the Company.

2)  The Company posted on its website (www.robbinsmyers.com) the slides for its conference call on October 16, 2007, discussing its financial results for the fourth quarter and fiscal year ended August 31, 2007. The slides for that conference call are attached as Exhibit 99.2 to this Form 8-K.

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: October 23, 2007	By:	/s/ Christopher M. Hix
		Christopher M. Hix
		Vice President and Chief Financial Officer

EXHIBIT INDEX

Exhibit Number	Description of Exhibit
99.1	Press Release of Robbins & Myers, Inc. dated October 15, 2007.
99.2	Slides for Conference Call on October 16, 2007

EX-99.1

Exhibit 99.1

Robbins & Myers Reports Record Fourth Quarter and Full Year Results

Strong Finish to Fiscal 2007; Well-Positioned for Another Record Year in 2008

DAYTON, Ohio, Oct. 15 /PRNewswire-FirstCall/ — Robbins & Myers, Inc. (NYSE: RBN) today reported diluted net earnings per share (DEPS) of $1.10 for its fiscal fourth quarter ended August 31, 2007 as compared with $0.56 in the prior year fourth quarter. The increase was attributed primarily to higher sales and an improved cost structure. Excluding special items, the Company earned $1.05 per diluted share as compared with $0.64 in the prior year.

For the fiscal year ended August 31, 2007, the Company achieved DEPS of $2.96. Before special items, which consist primarily of restructuring costs and gains from asset sales, the Company earned $2.84 per share. In the prior year, Robbins & Myers reported a loss of $1.31 per share and earnings of $1.26 before special items, most notably goodwill impairment charges, restructuring costs, and gains from asset sales.

The Company reported fourth quarter 2007 sales of $207 million, $24 million higher than in the prior year with all segments reporting increases. Orders were $189 million, $6 million lower than in the prior year fourth quarter. Lower orders were attributed to the sale of two product lines in 2007 as well as several large projects that were booked at the end of fiscal 2006. For the full year, Robbins & Myers achieved sales of $695 million and orders of $720 million. Excluding certain product lines divested from its Romaco segment in 2006 and 2007, full year sales increased 17%, and orders increased 10%, including 4% of currency exchange rate benefit. The Company ended the year with backlog of $194 million, 11% higher than at the end of the prior year.

“We are pleased with our record sales and profitability in the fourth quarter and full year just completed,” said Peter C. Wallace, President and Chief Executive Officer of Robbins & Myers, Inc. “Healthy end-markets and internal actions are driving sales growth, and an improved cost structure following a successful restructuring program has had a significant impact on operating margins. Our associates have embraced lean principles that will support continuous improvement in our performance. Customer-facing initiatives should drive sales growth in a number of regions and markets. We expect to make additional strides in these important initiatives in future years.”

Fourth quarter 2007 results also included record earnings before interest, taxes and minority interest (EBIT) of $36 million, which included $1 million of benefit from the sale of a facility in the Company’s Romaco segment. Excluding special items in both the current and prior periods, adjusted EBIT margins increased 540 basis points over the prior year to 16.9% as a result of higher sales volume and savings from completed restructuring programs. All of the Company’s segments reported strong double-digit operating margins in the fourth quarter of 2007. For the full year, adjusted EBIT margins expanded 570 basis points to 13.1%. The Company also achieved a record $106 million of adjusted EBITDA in 2007, and over $60 million of cash flow from operating activities.

“We announced two years ago that we were transforming Robbins & Myers from a holding company to an operating company, and our recent results demonstrate that our efforts are bearing fruit,” said Mr. Wallace. “While we are pleased with our operating performance, additional

opportunity lies ahead. Our management team, improved operating capabilities, and healthy balance sheet provide a solid foundation for additional progress. We are continuing to gain traction with lean enterprise initiatives, and we are investing in sales and marketing programs to drive profitable growth. We are well-positioned to capitalize on strong end-markets.”

The Company announced fiscal 2008 DEPS guidance of $3.30-$3.50 as compared with $2.96 ($2.84 before special items) in fiscal 2007. The Company also established first quarter 2008 DEPS guidance of $0.54-$0.64 versus $0.62 ($0.43 before special items) in the first quarter of 2007.

Fourth Quarter Results by Segment

All comparisons are made against the comparable year-ago quarterly period unless otherwise stated.

The Company’s Fluid Management segment fourth quarter sales of $84 million represent a 15% increase over the comparable prior year period, and orders increased $3 million to $80 million. The Company commented that energy market conditions remain favorable, especially in markets outside of North America. Higher sales and better capacity utilization contributed to the 22% increase in EBIT, which expanded to $24 million in the fourth quarter or 28.5% of sales.

The Process Solutions segment successfully worked down its backlog and achieved sales of $80 in the fourth quarter, a 19% increase. Orders were largely unchanged from the prior year at $71 million as currency exchange rate benefits were offset by large orders in the prior year fourth quarter that did not repeat in the current year. Strong fourth quarter shipments and benefits from restructuring activities completed in the prior year created a 70% increase in EBIT to $11 million. EBIT margins improved 400 basis points to 13.2%.

Romaco segment fourth quarter sales of $43 million were similar to the prior year comparable period, which included sales from two product lines subsequently sold in fiscal 2007. Excluding these divested product lines, fourth quarter sales increased $6 million or 16%. Orders declined $9 million to $37 million as a result of product lines being divested and large projects in the prior year not repeating. An improved cost structure following the completion of a restructuring program, and a $1 million gain from the previously-announced sale of a facility, enabled the segment to achieve $7 million of EBIT in the fourth quarter. Excluding special items, adjusted EBIT margins improved 920 basis points to 12.5%.

Conference Call to Be Held at 10:00 AM (Eastern) Tomorrow

A conference call to discuss these results has been scheduled for 10:00 a.m. ET on Tuesday, October 16, 2007. The call can be accessed via webcast or via telephone by dialing (866) 356-4279 (US/Canada) or +1 (617) 597-5394 (outside US/Canada) and using access code 78260798. Webcast information and conference call materials will be made available on the Company’s website (www.robn.com, “Investor Information” section) prior to the start of the call. Telephonic replays will be available for one week by calling (888) 286-8010 (US/Canada) or +1 (617) 801-6888 (outside US/Canada) and using the access code 79229448.

About Robbins & Myers

Robbins & Myers, Inc. is a leading global supplier of highly-engineered, application-critical equipment and systems to the global energy, chemical, pharmaceutical and industrial markets.

In this release the Company refers to various non-GAAP measures, including special items, adjusted EBIT and EBITDA (earnings before interest, taxes, depreciation and amortization). The Company believes these measures are helpful to investors in assessing its performance. Reconciliations of these measures to comparable GAAP results are provided further below in this release.

In addition to historical information, this release contains certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, all statements regarding the intent, belief or current expectations regarding the matters discussed or incorporated by reference in this document (including statements as to “beliefs,” “expectations,” “anticipations,” “intentions” or similar words) and all statements which are not statements of historical fact. Such forward- looking statements, together with other statements that are not historical, are based on management’s current expectations and involve known and unknown risks, uncertainties, contingencies and other factors that could cause results, performance or achievements to differ materially from those stated. The most significant of these risks and uncertainties are described in the Company’s Form 10-K, and Form 10-Q reports filed with the Securities and Exchange Commission and include, but are not limited to: a significant decline in capital expenditures in the specialty chemical and pharmaceutical industries; a major decline in oil and natural gas prices; changes in international economic and political conditions and currency fluctuations between the U.S. dollar and other currencies; work stoppages related to union negotiations; customer order cancellations; business disruptions caused by the implementation of business computer systems; the ability of the Company to comply with the financial covenants and other provisions of its financing arrangements; events or circumstances which result in an impairment of assets, including but not limited to, goodwill; the potential impact of U.S. and foreign legislation, government regulations, and other government action, including those relating to export and import of products and materials, and changes in the interpretation and application of such laws and regulations; the outcome of audit, compliance, administrative or investigatory reviews; and general economic conditions that can affect demand in the process industries. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, the Company’s actual results, performance or achievements could differ materially from those expressed in, or implied by, such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as otherwise required by law, the Company does not undertake any obligation to publicly release any revisions to these forward- looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

ROBBINS & MYERS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEET
      (Unaudited)

(in thousands)	August 31, 2007		August 31, 2006
ASSETS
Current Assets:
Cash and cash equivalents	$	116,110	$	48,365
Accounts receivable		152,779		124,569
Inventories		99,196		94,990
Other current assets		7,410		6,260
Deferred taxes		11,178		11,318
Total Current Assets		386,673		285,502
Goodwill & Other Intangible Assets		278,422		273,834
Deferred taxes		9,583		11,300
Other Assets		12,196		13,338
Property, Plant & Equipment		129,269		127,030
	$	816,143	$	711,004
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	78,890	$	62,749
Accrued expenses		105,394		104,590
Current portion of long-term debt		72,522		744
Total Current Liabilities		256,806		168,083
Long-Term Debt — Less Current Portion		30,553		104,787
Deferred Taxes		24,818		12,738
Other Long-Term Liabilities		91,448		87,017
Shareholders’ Equity		412,518		338,379
	$	816,143	$	711,004

ROBBINS & MYERS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED INCOME STATEMENT
      (Unaudited)

	Three Months					Twelve Months
	Ended					Ended
	August 31,			August 31,		August 31,			August 31,
(in thousands, except per share data)	2007			2006		2007			2006
Sales	$	207,034		$	183,190	$	695,393		$	625,389
Cost of sales		134,820			117,280		453,052			410,473
Gross profit		72,214			65,910		242,341			214,916
SG&A expenses		37,192			45,536		151,520			170,020
Goodwill impairment charge		0			0		0			39,174
Other		(1,303	)		1,291		(3,461	)		(1,786	)
Income before interest and income taxes		36,325			19,083		94,282			7,508
Interest expense		893			2,622		5,243			12,946
Income before income taxes and minority interest		35,432			16,461		89,039			(5,438	)
Income tax expense		15,963			7,224		36,866			12,589
Minority interest		557			217		1,468			1,560
Net income (loss)	$	18,912		$	9,020	$	50,705			($19,587	)
Net income (loss) per share:
Basic	$	1.10		$	0.59	$	2.98			($1.31	)
Diluted	$	1.10		$	0.56	$	2.96			($1.31	)
Weighted Average Common Shares Outstanding:
Basic		17,121			15,363		17,025			14,898
Diluted		17,192			16,713		17,106			16,575

ROBBINS & MYERS, INC. AND SUBSIDIARIES
CONDENSED BUSINESS SEGMENT INFORMATION
      (Unaudited)

	Three Months						Twelve Months
	Ended						Ended
	August 31,			August 31,			August 31,			August 31,
(in thousands)	2007			2006			2007			2006
Sales
Fluid Management	$	84,047		$	73,246		$	292,283		$	245,180
Process Solutions		79,579			66,837			273,890			231,009
Romaco		43,408			43,107			129,220			149,200
Total	$	207,034		$	183,190		$	695,393		$	625,389
Income Before Interest and Income Taxes (EBIT)
Fluid Management	$	23,963		$	19,636		$	76,973		$	56,522
Process Solutions		10,528			6,177	(1)		31,941	(1)		8,867	(1)
Romaco		6,721	(2)		(732	)(2)		2,612	(2)		(38,189	)(2)
Corporate and Eliminations		(4,887	)		(5,998	)		(17,244	)		(19,692	)
Total	$	36,325		$	19,083		$	94,282		$	7,508
Depreciation and Amortization
Fluid Management	$	2,260		$	2,135		$	7,376		$	7,491
Process Solutions		1,369			1,449			6,224			6,496
Romaco		583			763			2,090			2,991
Corporate and Eliminations		252			395			934			1,600
Total	$	4,464		$	4,742		$	16,624		$	18,578
Orders
Fluid Management	$	80,406		$	77,604		$	301,941		$	256,937
Process Solutions		71,402			70,741			284,371			262,256
Romaco		36,896			46,318			133,536			169,629
Total	$	188,704		$	194,663		$	719,848		$	688,822
Backlog
Fluid Management	$	42,956		$	33,298		$	42,956		$	33,298
Process Solutions		98,914			88,433			98,914			88,433
Romaco		51,951			52,716			51,951			52,716
Total	$	193,821		$	174,447		$	193,821		$	174,447

Robbins & Myers, Inc. and Subsidiaries
Reconciliation of Net Income to EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA
Reconciliation of Diluted Earnings (DEPS) per Share to Diluted EPS
    Ex-Special Items
      (Unaudited)

	Three Months						Twelve Months
	Ended						Ended
	August 31,			August 31,			August 31,			August 31,
	2007			2006			2007			2006
Net income	$	18,912		$	9,020		$	50,705		$	(19,587	)
Interest expense		893			2,622			5,243			12,946
Income taxes		15,963			7,224			36,866			12,589
Minority interest		557			217			1,468			1,560
EBIT		36,325			19,083			94,282			7,508
Minority interest		(557	)		(217	)		(1,468	)		(1,560	)
Depreciation & amortization		4,464			4,742			16,624			18,578
EBITDA		40,232			23,608			109,438			24,526
Special items:
(1) Process Solutions segment
Cost of sales-restructuring inventory write downs		—			—			—			370
Other-restructuring costs		—			(132	)		—			4,160
Net product line/facility sale gains		—			—			(5,036	)		(1,800	)
		—			(132	)		(5,036	)		2,730
(2) Romaco segment
Cost of sales-restructuring inventory write downs		—			757			—			757
Other-restructuring costs		—			2,464			1,818			4,312
Net product line/facility sale gains		(1,303	)		(1,041	)		(243	)		(8,458	)
Goodwill impairment		—						—			39,174
		(1,303	)		2,180			1,575			35,785
Total Special Items		(1,303	)		2,048			(3,461	)		38,515
Adjusted EBIT	$	35,022		$	21,131		$	90,821		$	46,023
Adjusted EBITDA	$	38,929		$	25,656		$	105,977		$	63,041
Diluted EPS	$	1.10		$	0.56		$	2.96		$	(1.31	)
Per Share Effect of Special Items Above		(0.05	)		0.08			(0.12	)		2.57
Diluted EPS Ex-Special Items	$	1.05		$	0.64		$	2.84		$	1.26

EX-99.2

Exhibit 99.2

Q4 2007 Financial Results Investor Conference Call October 16, 2007 Robbins & Myers, Inc.

In addition to historical information, this release contains certain statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward- looking statements include, but are not limited to, all statements regarding the intent, belief or current expectations regarding the matters discussed or incorporated by reference in this document (including statements as to "beliefs," "expectations," "anticipations," "intentions" or similar words) and all statements which are not statements of historical fact. Such forward-looking statements, together with other statements that are not historical, are based on management's current expectations and involve known and unknown risks, uncertainties, contingencies and other factors that could cause results, performance or achievements to differ materially from those stated. The most significant of these risks and uncertainties are described in the Company's Form 10-K, and Form 10-Q reports filed with the Securities and Exchange Commission and include, but are not limited to: a significant decline in capital expenditures in the specialty chemical and pharmaceutical industries; a major decline in oil and natural gas prices; changes in international economic and political conditions and currency fluctuations between the U.S. dollar and other currencies; work stoppages related to union negotiations; customer order cancellations; business disruptions caused by the implementation of business computer systems; the ability of the Company to comply with the financial covenants and other provisions of its financing arrangements; events or circumstances which result in an impairment of assets, including but not limited to, goodwill; the potential impact of U.S. and foreign legislation, government regulations, and other government action, including those relating to export and import of products and materials, and changes in the interpretation and application of such laws and regulations; the outcome of audit, compliance, administrative or investigatory reviews; and general economic conditions that can affect demand in the process industries. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, the Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as otherwise required by law, the Company does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. This presentation refers to various non-GAAP measures. The Company believes these measures are helpful to investors in assessing the Company's ongoing performance of its underlying businesses before the impact of special items on its financial performance. In addition, these non-GAAP measures provide a comparison to our previously announced earnings guidance, which excluded these special items. These non-GAAP measures are reconciled to GAAP measures in this document. Cautionary Statement Concerning Forward- Looking and Other Information

Quarter & Year Ended August 31, 2007 2007 Year in Review Fourth Quarter 2007 Review 2008 Objectives and Guidance Q4 and Full Year 2007 Financial Highlights

2007 Year in Review Management / Talent Upgraded Business Simplified Lean Implemented; Continuous Improvement Romaco Restructuring Completed; Profitable PSG Exited Year With > 10% Operating Margins Customer-Facing Initiatives Launched Creating a Performance Culture...Creating Our Future

Annual Sales Performance 2005 2006 2007 Sales 605 625 695 Pro Forma Sales 550 592 692 Favorable End Markets New Applications, Products; Geographic Expansion Sales & Marketing Programs Create Greater Opportunities Increasing Our Customer Focus to Drive Growth Sales Pro Forma Sales $592 $692 $550 (Millions) +17% Pro forma sales exclude divested product lines. Years End August 31

Annual Operating Margins 2005 2006 2007 EBIT Margins 0.035 0.012 0.136 Adjusted EBIT Margins 0.052 0.074 0.131 Greater Sales Volume Creates Operating Leverage Recent Restructuring Actions Create More Effective Cost Structure Opportunities for Tighter Integration, Lean Benefits Disciplined Approach to Profitable Growth EBIT Margins Adj. EBIT Margins 7.4% 13.1% 5.2% +570 Bpt Adjusted EBIT margins exclude special items. See appendix for reconciliation to GAAP figures.

Annual EBITDA 2005 2006 2007 EBITDA 42 25 108 Adjusted EBITDA 50 63 106 Flow-Through > 40% in 2007 Growing EBITDA Supports Our Growing Company EBITDA Adj. EBITDA $63 $106 $50 (Millions) +68% Adjusted EBITDA excludes special items. See appendix for reconciliation to GAAP figures.

Annual EPS 2005 2006 2007 EPS -0.1 -1.31 2.96 Adjusted EPS 0.5 1.26 2.84 Real 2005 EPS number -0.02 $2.96 GAAP EPS in 2007 Includes $0.12 of Net Special Item Benefits Compares with Recent Guidance of $2.60-$2.70 2007 Adj. EPS of $2.84 Compares with $1.26 in 2006 Operating Performance Improvements Create Shareholder Value EPS Adj. EPS $1.26 $2.84 $0.50 2005 2006 2007 +125% Adjusted EPS excludes special items. See appendix for reconciliation to GAAP figures. Diluted Earnings per Share

Annual Cash Flow from Operating Activities 2005 2006 2007 EBITDA 0 0 0 Adjusted EBITDA 26.8 40.5 63.9 Sharpened Emphasis on Working Capital Created Big Finish in Q4 2007, Consistent with Prior Years Opportunity Remains for Further Improvements Unlocking Our Cash Flow Potential $41 $64 $27 (Millions) +56%

Q4 2007 Overview Operating / Strategic Actions Hired New Leaders for HR, China Positioned to Implement ERP Projects Throughout FY '08 Sold Previously-Used Romaco UK Facility Financial Results Significant Sales Growth Consistent Margin Gains Strong Cash Flow Expanding Capabilities, Improving Financial Results

Quarterly Sales and Orders Q1 Q2 Q3 Q4 Good Momentum as We Start 2008 Strong Sales Throughout the Business...Typical Year-End Push Effectively Working Down Backlog and Improving On-Time Deliveries Year-End Backlog Up 11% to $194 Million 2006 Sales 2007 Sales 2007 Orders $189 $207 $183 (Millions)

Quarterly Margins Q1 Q2 Q3 Q4 Last Year's Margins 0.04 0.053 0.074 0.115 Margins 0.095 0.109 0.138 0.169 All Segments Achieved Double-Digit Margins in Q4 2007 Consistent Yr-Over-Yr 500+ Bps Improvement Throughout 2007 2007 Restructuring Expected to Create Additional Gains in 2008 Improving the Earnings Power of Our Businesses 16.9% 11.5% Adjusted EBIT Margins 2006 Margins 2007 Margins Adjusted EBIT margins exclude special items. See appendix for reconciliation to GAAP figures.

Quarterly EPS Q1 Q2 Q3 Q4 2006 DEPS -2.02 0.08 -0.01 0.56 2007 DEPS 0.62 0.46 0.77 1.1 2006 Adj DEPS 0.06 0.21 0.32 0.64 2007 Adj DEPS 0.43 0.52 0.78 1.05 2006 Adj. EPS 2007 Adj. EPS $1.05 $0.64 2007 EPS $1.10 All Segments Contributing to Results Fourth Quarter Adj. EPS Increased 64% Over Prior Year Quarter Q4 2007 GAAP EPS Includes $0.05 Benefit from Facility Sale Adjusted EPS excludes special items. See appendix for reconciliation to GAAP figures. Diluted EPS

Fluid Management Group (FMG) Q4 Results Yr-Yr Orders Increased 4% Energy Markets Remain Supportive Esp. Outside of North America Good FY '08 Start in September Yr-Yr Sales Grew 15% Lean Initiatives Improve Through- Put EBIT Margins Expanded 170 Bps to 28.5% Capitalizing on Re-Alignment of Business Platform Leveraging Fixed Cost As Volume Increases Focused on Capturing Market Opportunities Q4 2006 Q4 2007 East 73.2 84 Q4 2006 Q4 2007 East 19.6 24 Sales EBIT

Process Solutions Group (PSG) Q4 Results Orders Up 1% Lumpy Large Project Timing Backlog Increased 12% Yr-Yr Strong Start in September Sales Grew 19% Large Projects Shipped Removing Production Bottlenecks Adj. EBIT Margins Up 420 Bps to 13.2% Improved Cost Structure Supports Higher Profitability Removing Business Barriers, Unifying Our Team Q4 2006 Q4 2007 PSG 66.8 79.6 Q4 2006 Q4 2007 East 6 10.5 Sales Adj. EBIT Adjusted EBIT excludes special items. See appendix for reconciliation to GAAP figures.

Romaco Group Q4 Results Excl. Disposed Product Lines, Orders Decreased 14% Lumpy Large Project Timing Backlog In-Line with Prior Year in Spite of Sale of Two Product Lines During 2007 September Orders Met Expectations Excl. Disposed Product Lines, Sales Grew 16% Effective Project Execution at Year-End Achieved Adj. EBIT Margins of 12.5% Reflects Benefits from Simplified Business and Improved Cost Structure Leveraging Our Improved Cost Structure Q4 2006 Q4 2007 Romaco 37.4 43.4 Divested 5.7 Sales $43.1 $43.4 Disposed Product Lines Adj. EBIT Q4 2006 Q4 2007 East 1.4 5.4 Adjusted EBIT excludes special items. See appendix for reconciliation to GAAP figures.

2008 Objectives Expand Key Account Management, Sales Training Increase Asian Presence Simplify and Integrate Operations Launch Management Development Programs Embed Lean Throughout the Company Hitting Our Stride

2008 Guidance 2007 2008 Core 2.84 3.5 Special Items 0.12 +16-23% 2008 Expectations Include: Market Conditions Remain Favorable Operating Margins Expand in All Three Segments Increased Investment in Capital, Capabilities Sequential Improvements Throughout 2008 Positioned for Another Record Year in 2008 Q1 '07 Q1 '08 Core 0.43 0.64 Special Items 0.19 +26-49% Special Items Special Items Diluted EPS

Summary Healthy End Markets Support Further Growth Announced Restructuring Efforts Completed More Responsive Organization Lower Cost Structure Continuous Improvement Creates Future Operational Improvements Balance Sheet Supports Both Organic and Strategic Growth Management Team Capable of Taking Business to a New Level Focused on Creating Shareholder Value

Q4 2007 Financial Results Investor Conference Call October 16, 2007 Financial Highlights

Q4 Income Statement Highlights Orders ex-disposals Ending Backlog Net Sales ex-disposals Gross Profit Gross Margin EBIT EBIT Margin Adj. EBIT Margin Net Income DEPS (Millions, Except Per Share Data) Q4 2007 Q4 2006 $188.7 188.7 193.8 207.0 207.0 72.2 34.9% 36.3 17.5% 16.9% $18.9 $1.10 $194.7 191.4 174.4 183.2 177.7 65.9 36.0% 19.1 10.4% 11.5% $9.0 $0.56 - -1% Including FX +4%; Large Orders from Prior Year Did Not Repeat Q4 '07 Pressured From Lower Margin PSG Projects...Opportunity for Better Execution +16% Including FX +4% 45% Effective Tax Rate in Q4 '07; 41% Full Year Rate...Expect Improvements in 2008 Adjusted EBIT margins exclude special items. See appendix for reconciliation to GAAP figures. Restructuring Efforts, Other Projects Reduced SG&A Costs $8.3 Million or 18% +11%

Special Items Update Q4 2006 COGS - Restructuring SG&A "Other" ......Restructuring ......Asset Sales Total $0.8 2.3 (1.0) $2.1 $- - - (1.3) $(1.3) All Announced Programs Completed Within Expected Cost Range Restructuring Efforts Self-Funded Through Asset Sales, Operating Benefits (Millions) Expense (Income) 2006 $1.1 8.5 (10.3) $(0.7) 2007 $- 1.8 (5.3) $(3.5) Q4 2007

Q4 Segment Highlights Orders Ending Backlog Net Sales FX Impact on Sales EBIT Goodwill Impairment Restructuring Costs Asset Sale (Gains) Adj. EBIT Adj. EBIT Margin Q4 2007 Q4 2006 $80.4 43.0 84.0 +1% 24.0 - - - - - - 24.0 28.5% $77.6 33.3 73.2 19.6 - - - - - - 19.6 26.8% FMG Q4 2007 Q4 2006 $71.4 98.9 79.6 +5% 10.5 - - - - - - 10.5 13.2% $70.7 88.4 66.8 6.2 - - (0.2) - - 6.0 9.0% PSG Q4 2007 Q4 2006 $36.9 52.0 43.4 +5% 6.7 - - - - (1.3) 5.4 12.5% $46.3 52.7 43.1 (0.7) - - 3.2 (1.1) 1.4 3.3% Romaco (Millions)

Capital Structure Update 2005 2006 2007 Debt 175 105.5 103 Cash 23 48 116 Generated $64 Million of Cash from Operating Activities in 2007 Ended the Year With More Cash Than Debt Prepared for $70 Million Note Retirement in 2008 Balance Sheet Supports Growth Strategy $103 Debt Cash $116 $106 $48 $175 $23 (Millions)

Working Capital Highlights Q4 2005 Q1 2006 Q2 2006 Q3 2006 Q4 '06 Q1 '07 Q2 '07 Q3 '07 Q4 '07 Net Working Capital 84.4 90.2 98.1 89 70.7 106.4 105.7 99.2 86.3 Net Current Liab 164.3 155.9 148.8 148.7 165.1 155.1 166.5 167.8 184.3 % of Sales 0.162 0.164 0.145 0.096 0.172 0.163 0.145 0.104 Net Current Assets 248.7 246.1 246.9 237.7 235.8 261.5 271.2 267 270.6 Current Assets Less Cash $235.8 $261.5 Current Liabilities Less Debt Net Working Capital (NWC) NWC as % Sales "NWC as a % of Sales" is calculated by dividing the period ending NWC by the annualized period sales. 9.7% 17.2% 16.4% 14.5% $272.2 $267.0 10.9% $270.6 Year-Over-Year Change in Efficiency Affected by FAS 158 Adoption Opportunity to Improve Accounts Receivable Collections and Smooth Quarterly Cash Cycles (Millions)

Q4 2007 Financial Results Investor Conference Call October 16, 2007 Questions?

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