Gabelli Comments On Robbins & Myers Aftermarket Sales

According to Gabelli, Robbins & Myers RBN goals include to increase its aftermarket sales in order to create more stable revenues. Gabelli reported that the T-3 acquisition increases RBN's aftermarket exposure from 29% to 32% of sales. “The acquisition is expected to be $0.10 per share accretive in the first full year of RBN's ownership. About $9 mm of synergies are expected to come from eliminating corporate costs, consolidating facilities and buying in larger quantities. We calculate a 2012 PMV of $47.” Robbins & Myers closed yesterday at $43.39.