<PAGE> 1
================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
[X] ANNUAL REPORT PURSUANT TO SECTION 15 (D) OF THE
SECURITIES AND EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the Fiscal Year Ended
December 31, 1997 Commission File Numbers (33-61893)
- ---------------------------------- ----------------------------------
ROBBINS & MYERS, INC. EMPLOYEE SAVINGS PLAN
(Name of Plan)
- --------------------------------------------------------------------------------
ROBBINS & MYERS, INC.
1400 Kettering Tower
Dayton, Ohio 45423
(937) 222-2610
(Name of Issuer of Security, held pursuant to Plan and address of its principal
executive office)
================================================================================
<PAGE> 2
REQUIRED INFORMATION
--------------------
The Robbins & Myers, Inc. Employee Savings Plan (the "Plan") is subject
to the Employee Retirement Income Security Act of 1974.
Item 4. In lieu of the requirements of Items 1, 2 and 3 of this Form
11-K, the following financial statements of the Plan, notes thereto, and Report
of Independent Auditors thereon are being filed as Exhibit 99.1 to this Report:
(a) Statement of Assets Available for Plan Benefits - December 31,
1997 and 1996;
(b) Statement of Changes in Assets Available for Plan Benefits -
for the years ended December 31, 1997 and 1996;
(c) Notes to Financial Statements; and
(d) Schedule of Transactions or Series of Transactions in Excess
of 5 percent of the Current Value of Plan Assets for the year
ended December 31, 1997.
The consent of Independent Auditors to the incorporation by reference
of the foregoing financial statements in Registration statement on Form S-8 (No.
33-61893) pertaining to the Plan is being filed as Exhibit 23.1 to this Report.
SIGNATURES
THE PLAN. Pursuant to the requirements of the Securities Exchange Act
of 1934, the persons who administer the Robbins & Myers, Inc. Employee Savings
Plan have duly caused this annual report to be signed on its behalf by the
undersigned hereunto duly authorized.
ROBBINS & MYERS, INC. EMPLOYEE
SAVINGS PLAN
By /s/ Stephen R. Ley
------------------------------------------
Name: Stephen R. Ley
Title: Member, Corporate Benefits
Committee
Dated: June 26, 1998
<PAGE> 3
INDEX TO EXHIBITS
-----------------
The following Exhibits are being filed with this Annual Report on Form
11-K:
Exhibit
- -------
(23) CONSENT OF EXPERTS AND COUNSEL
23.1 Consent of Ernst & Young LLP.
(99) ADDITIONAL EXHIBITS
99.1 Audited Financial Statement of Robbins & Myers, Inc. Employee
Savings Plan as of and for the years ended December 31, 1997 and 1996.
<PAGE> 1
Exhibit 23.1
Consent of Independent Auditors
We consent to the incorporation by reference in the Registration Statement (Form
S-8 No. 33-61893) pertaining to the Robbins & Myers, Inc. Employee Savings Plan
of our report dated May 29, 1998, with respect to the financial statements and
schedules of the Robbins & Myers, Inc. Employees Savings Plan included in this
Annual Report (Form 11-K) for the year ended December 31, 1997.
/s/ ERNST & YOUNG LLP
Dayton, Ohio
June 22, 1998
<PAGE> 1
EXHIBIT 99.1
Financial Statements
Robbins & Myers, Inc.
Employee Savings Plan
Years ended December 31, 1997 and 1996
with Report of Independent Auditors
<PAGE> 2
Robbins & Myers, Inc.
Employee Savings Plan
Financial Statements
Years ended December 31, 1997 and 1996
TABLE OF CONTENTS
Report of Independent Auditors...............................................1
Audited Financial Statements
Statements of Assets Available for Plan Benefits ............................2
Statements of Changes in Assets Available for Plan Benefits .................3
Notes to Financial Statements................................................4
Supplemental Schedules
Line 27a - Schedule of Assets Held for Investment Purposes..................12
Line 27d - Schedule of Reportable Transactions..............................13
<PAGE> 3
Report of Independent Auditors
Corporate Benefits Committee
Robbins & Myers, Inc. Employee Savings Plan
We have audited the accompanying financial statements of the Robbins & Myers,
Inc. Employee Savings Plan (the Plan) as of December 31, 1997 and 1996 and for
the years then ended, as listed in the table of contents. These financial
statements are the responsibility of the Plan's management. Our responsibility
is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above, present fairly, in
all material respects, the assets available for plan benefits of the Plan at
December 31, 1997 and 1996, and the changes in its assets available for plan
benefits for the years then ended, in conformity with generally accepted
accounting principles.
Our audits were performed for the purpose of forming an opinion on the financial
statements taken as a whole. The accompanying supplemental schedules of assets
held for investment for the year ended December 31, 1997 and reportable
transactions for the year ended December 31, 1997, are presented for purposes of
complying with the Department of Labor's Rules and Regulations for Reporting and
Disclosure under the Employee Retirement Income Security Act of 1974, and are
not a required part of the financial statements. The supplemental schedules have
been subjected to the auditing procedures applied in our audits of the financial
statements and, in our opinion, are fairly stated in all material respects in
relation to the financial statements taken as a whole.
May 29, 1998
<PAGE> 4
<TABLE>
<CAPTION>
Robbins & Myers, Inc.
Employee Savings Plan
Statements of Assets Available for Plan Benefits
DECEMBER 31
1997 1996
--------------------------------------
ASSETS
Investments at fair value:
<S> <C> <C>
Robbins & Myers, Inc. Common Stock $ 12,729,103 $ 7,031,401
Vanguard Wellington Fund 4,632,182 3,701,946
Vanguard Windsor Fund 9,444,758 7,393,496
VMMR Prime Portfolio 578,929 661,137
Vanguard Index Small Capitalization Portfolio 1,469,757 1,063,535
Vanguard Windsor II 2,290,683 2,024,951
Vanguard Index 500 Portfolio 1,692,100 649,267
Vanguard U.S. Growth Fund 2,279,650 1,674,801
Vanguard International Growth Portfolio 435,105 285,061
Vanguard VBIF Total Bond Market Fund 383,537 142,185
Vanguard Investment Contract Trust 5,260,914 5,492,180
--------------------------------------
Total investments 41,196,718 30,119,960
Receivables:
Employer contribution receivable 407,919 392,811
Employee contribution receivable 216,153 187,912
Loans receivable from participants 1,187,272 615,112
--------------------------------------
Total receivables 1,811,344 1,195,835
--------------------------------------
Assets available for plan benefits $ 43,008,062 $ 31,315,795
======================================
See accompanying notes.
</TABLE>
2
<PAGE> 5
<TABLE>
<CAPTION>
Robbins & Myers, Inc.
Employee Savings Plan
Statements of Changes in Assets Available for Plan Benefits
YEARS ENDED DECEMBER 31
1997 1996
--------------------------------------
ADDITIONS
<S> <C> <C>
Contributions from employees $ 3,039,550 $ 2,731,442
Contributions from employer 1,093,153 1,003,187
Dividend income--Robbins & Myers, Inc.
Common Stock 63,428 47,197
Dividends and interest 2,778,948 1,725,540
--------------------------------------
Total additions 6,975,079 5,507,366
DEDUCTIONS
Withdrawals 1,615,333 2,448,177
Unrealized and realized appreciation
in fair value of investments 6,332,521 4,557,238
--------------------------------------
Net additions 11,692,267 7,616,427
Assets available for plan benefits at
beginning of year 31,315,795 23,699,368
--------------------------------------
Assets available for plan benefits at end of year $ 43,008,062 $ 31,315,795
======================================
See accompanying notes.
</TABLE>
3
<PAGE> 6
Robbins & Myers, Inc.
Employee Savings Plan
Notes to Financial Statements
December 31, 1997
1. SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING
The Plan maintains its accounting records on the accrual basis of accounting.
All assets of the Plan are held by the trustee.
VALUATION OF INVESTMENTS
The Plan's investments are stated at fair value. The shares of registered
investment companies are valued at quoted market prices which represent the net
asset values of shares held by the Plan at year-end. The units of the Vanguard
Investment Contract Trust are valued at their contract value which approximate
fair value.
Purchases and sales of securities are recorded on a trade-date basis. Interest
income is recorded on the accrual basis. Dividends are recorded on the
ex-dividend date. Realized gains and losses on securities represent the
difference between the proceeds received and the average cost of securities
sold. Unrealized appreciation (depreciation) on securities represents the
difference between the current value and the cost of the investment and is
reflected in the statement of changes in assets available for plan benefits as a
part of unrealized and realized appreciation (depreciation) in fair value of
investments.
MANAGEMENT'S USE OF ESTIMATES
The preparation of financial statements, in conformity with generally accepted
accounting principles, requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements.
Estimates also affect the reported amounts of changes in net assets during the
reporting period. Actual results could differ from those estimates.
4
<PAGE> 7
Robbins & Myers, Inc.
Employee Savings Plan
Notes to Financial Statements (continued)
2. DESCRIPTION OF PLAN
The Plan is a defined contribution plan which covers salaried employees of
Robbins & Myers, Inc. (the Company) and its U.S. subsidiaries. Each year,
participants can make contributions of between 1 percent and 12 percent of
pretax annual compensation, as defined by the Plan. The Company contributes a
minimum of 40 percent of an employee's annual contribution and may elect to make
up to an additional 20 percent contribution at year-end. Only the first 6
percent of an employee's annual compensation is eligible for the employer's
match.
Participants are immediately vested in their contributions and any earnings on
these contributions. Matching contributions made by the Company become vested as
follows:
<TABLE>
<CAPTION>
YEARS OF VESTING SERVICE VESTING PERCENTAGE
- -----------------------------------------------------------
<S> <C>
Less than 1 year 0%
1 year but less than 2 years 20%
2 years but less than 3 years 40%
3 years but less than 4 years 60%
4 years but less than 5 years 80%
5 years or more 100%
</TABLE>
Brokerage fees and other direct costs of investment are paid by the fund to
which the costs are attributable. All other expenses are paid by the Company.
Although it has not expressed an intent to do so, the Company has the right to
discontinue its contributions at any time and terminate the Plan subject to the
provisions of ERISA.
The foregoing description of the Plan provides only general information.
Additional information about the plan agreement is contained in the Summary Plan
Description. Copies are available from the Corporate Benefits Committee.
5
<PAGE> 8
Robbins & Myers, Inc.
Employee Savings Plan
Notes to Financial Statements (continued)
3. INVESTMENTS
The fair value of individual investments that represent 5 percent or more of the
Plan's fair value of net assets available for plan benefits is as follows:
<TABLE>
<CAPTION>
DECEMBER 31
1997 1996
------------------------------------
<S> <C> <C>
Robbins & Myers, Inc. Common Stock $ 12,729,103 $ 7,031,401
Vanguard Wellington Fund 4,632,182 3,701,946
Vanguard Windsor Fund 9,444,758 7,393,496
Vanguard Windsor II 2,290,683 2,024,951
Vanguard U.S. Growth Fund 2,279,650 1,674,801
Vanguard Investment Contract Trust 5,260,914 5,492,180
</TABLE>
6
<PAGE> 9
<TABLE>
<CAPTION>
Robbins & Myers, Inc.
Employees Savings Plan
Notes to Financial Statements (continued)
4. INVESTMENT FUND ACTIVITY
The Plan provides that participants may direct their contributions and the Company's contributions to various types of investment
funds. The changes in assets available for plan benefits of the various funds for the year ended December 31, 1997 are summarized
in the following tables:
YEAR ENDED DECEMBER 31, 1997
----------------------------------------------------------------------------
ROBBINS &
MYERS, INC. VANGUARD VANGUARD VMMR
COMMON WELLINGTON WINDSOR PRIME
STOCK FUND FUND PORTFOLIO
----------------------------------------------------------------------------
ADDITIONS
<S> <C> <C> <C> <C>
Contributions from employees $ 640,405 $ 538,788 $ 828,381 $ 24,035
Contributions from employer 1,093,153 - - -
Dividend income--
Robbins & Myers, Inc. Common Stock 63,428 - - -
Dividends and interest - 395,231 1,503,847 32,531
Transfers in - - 52,465 -
----------------------------------------------------------------------------
Total additions 1,796,986 934,019 2,384,693 56,566
DEDUCTIONS
Withdrawals 512,277 330,343 471,363 78,508
Transfers out 65,635 144,786 - 36,420
----------------------------------------------------------------------------
Total deductions 577,912 475,129 471,363 114,928
Unrealized and realized appreciation
in fair value of investments 4,499,268 473,775 149,887 -
----------------------------------------------------------------------------
Net additions 5,718,342 932,665 2,063,217 (58,362)
Assets available for plan
benefits at beginning of year 7,450,195 3,733,578 7,445,493 661,153
Assets available for plan ============================================================================
benefits at end of year $ 13,168,537 $ 4,666,243 $ 9,508,710 $ 602,791
============================================================================
<CAPTION>
YEAR ENDED DECEMBER 31, 1997
----------------------------------------------------------
VANGUARD
INDEX SMALL VANGUARD
CAPITALIZATION VANGUARD INDEX 500
PORTFOLIO WINDSOR II PORTFOLIO
----------------------------------------------------------
ADDITIONS
<S> <C> <C> <C>
Contributions from employees $ 175,298 $ 23 $ 426,935
Contributions from employer - - -
Dividend income--
Robbins & Myers, Inc. Common Stock - - -
Dividends and interest 81,536 211,819 31,235
Transfers in 20,875 - 440,208
----------------------------------------------------------
Total additions 277,709 211,842 898,378
DEDUCTIONS
Withdrawals 62,327 240,232 144,209
Transfers out - 100,953 -
----------------------------------------------------------
Total deductions 62,327 341,185 144,209
Unrealized and realized appreciation
in fair value of investments 182,554 395,057 278,800
----------------------------------------------------------
Net additions 397,936 265,714 1,032,969
Assets available for plan
benefits at beginning of year 1,072,891 2,024,969 671,313
Assets available for plan ==========================================================
benefits at end of year $ 1,470,827 $ 2,290,683 $ 1,704,282
==========================================================
</TABLE>
7
<PAGE> 10
<TABLE>
<CAPTION>
Robbins & Myers, Inc.
Employees Savings Plan
Notes to Financial Statements (continued)
4. INVESTMENT FUND ACTIVITY (CONTINUED)
YEAR ENDED DECEMBER 31, 1997
----------------------------------------------------------
VANGUARD VANGUARD
INVESTMENT VANGUARD INTERNATIONAL
CONTRACT U.S. GROWTH GROWTH
TRUST FUND PORTFOLIO
----------------------------------------------------------
ADDITIONS
<S> <C> <C> <C>
Contributions from employees $ 270,859 $ 315,201 $ 140,191
Contributions from employer - - -
Dividend income--
Robbins & Myers, Inc. Common Stock - - -
Dividends and interest 318,102 88,713 18,656
Transfers in - - 37,518
----------------------------------------------------------
Total additions 588,961 403,914 196,365
DEDUCTIONS
Withdrawals 504,889 113,165 33,394
Transfers out 314,348 43,987 -
----------------------------------------------------------
Total deductions 819,237 157,152 33,394
Unrealized and realized appreciation
in fair value of investments - 358,854 (11,964)
----------------------------------------------------------
Net (deductions) additions (230,276) 605,616 151,007
Assets available for plan
benefits at beginning of year 5,506,608 1,693,938 292,773
Assets available for plan
benefits at end of year ==========================================================
$ 5,276,332 $ 2,299,554 $ 443,780
==========================================================
<CAPTION>
YEAR ENDED DECEMBER 31, 1997
------------------------------------------------------------
VBIF
TOTAL BOND PARTICIPANT
MARKET LOANS TOTAL
------------------------------------------------------------
ADDITIONS
<S> <C> <C> <C>
Contributions from employees $ 90,410 $ (410,976) $ 3,039,550
Contributions from employer - - 1,093,153
Dividend income--
Robbins & Myers, Inc. Common Stock - - 63,428
Dividends and interest 13,614 83,664 2,778,948
Transfers in 155,063 - 706,129
------------------------------------------------------------
Total additions 259,087 (327,312) 7,681,208
DEDUCTIONS
Withdrawals 24,097 (899,471) 1,615,333
Transfers out - - 706,129
------------------------------------------------------------
Total deductions 24,097 (899,471) 2,321,462
Unrealized and realized appreciation
in fair value of investments 6,290 - 6,332,521
------------------------------------------------------------
Net (deductions) additions 241,280 572,159 11,692,267
Assets available for plan
benefits at beginning of year 147,772 615,112 31,315,795
Assets available for plan
benefits at end of year ============================================================
$ 389,052 $ 1,187,271 $ 43,008,062
============================================================
</TABLE>
8
<PAGE> 11
Robbins & Myers, Inc.
Employees Savings Plan
Notes to Financial Statements
(continued)
<TABLE>
<CAPTION>
4. INVESTMENT FUND ACTIVITY (CONTINUED)
YEAR ENDED DECEMBER 31, 1996
------------------------------------------------------------------------------
ROBBINS &
MYERS, INC. VANGUARD VANGUARD VMMR
COMMON WELLINGTON WINDSOR PRIME
STOCK FUND FUND PORTFOLIO
------------------------------------------------------------------------------
ADDITIONS
<S> <C> <C> <C> <C>
Contributions from employees $ 311,570 $ 525,623 $ 752,583 $ 138
Contributions from employer 1,003,187 - - -
Dividend income--
Robbins & Myers, Inc. Common Stock 47,197 - - -
Dividends and interest - 285,417 706,247 34,770
Transfers in 103,735 - - -
------------------------------------------------------------------------------
Total additions 1,465,689 811,040 1,458,830 34,908
DEDUCTIONS
Withdrawals 396,279 372,753 527,439 100,390
Administrative expenses - - - -
Transfers out - 131,053 682,489 103,862
------------------------------------------------------------------------------
Total deductions 396,279 503,806 1,209,928 204,252
Unrealized and realized appreciation
in fair value of investments 2,830,485 223,059 831,691 -
------------------------------------------------------------------------------
Net additions 3,899,895 530,293 1,080,593 (169,344)
Assets available for plan
benefits at beginning of year 3,550,300 3,203,285 6,364,900 830,497
Assets available for plan ==============================================================================
benefits at end of year $ 7,450,195 $ 3,733,578 $ 7,445,493 $ 661,153
==============================================================================
<CAPTION>
YEAR ENDED DECEMBER 31, 1996
------------------------------------------------------------
VANGUARD
INDEX SMALL VANGUARD
CAPITALIZATION VANGUARD INDEX 500
PORTFOLIO WINDSOR II PORTFOLIO
------------------------------------------------------------
ADDITIONS
<S> <C> <C> <C>
Contributions from employees $ 148,346 $ 36,781 $ 331,244
Contributions from employer - - -
Dividend income--
Robbins & Myers, Inc. Common Stock - - -
Dividends and interest 85,222 144,984 10,986
Transfers in - - 253,482
------------------------------------------------------------
Total additions 233,568 181,765 595,712
DEDUCTIONS
Withdrawals 73,183 218,832 13,657
Administrative expenses 2,781 - -
Transfers out 56,261 213,631 -
------------------------------------------------------------
Total deductions 132,225 432,463 13,657
Unrealized and realized appreciation
in fair value of investments 75,738 298,567 61,609
------------------------------------------------------------
Net additions 177,081 47,869 643,664
Assets available for plan
benefits at beginning of year 895,810 1,977,100 27,649
Assets available for plan ============================================================
benefits at end of year $ 1,072,891 $ 2,024,969 $ 671,313
============================================================
</TABLE>
9
<PAGE> 12
Robbins & Myers, Inc.
Employees Savings Plan
Notes to Financial Statements (continued)
<TABLE>
<CAPTION>
4. INVESTMENT FUND ACTIVITY (CONTINUED)
YEAR ENDED DECEMBER 31, 1996
----------------------------------------------------------------------------
VANGUARD VANGUARD
INVESTMENT VANGUARD INTERNATIONAL VBIF
CONTRACT U.S. GROWTH GROWTH TOTAL BOND
TRUST FUND PORTFOLIO MARKET
----------------------------------------------------------------------------
ADDITIONS
<S> <C> <C> <C> <C>
Contributions from employees $ 191,938 $ 194,884 $ 145,553 $ 92,782
Contributions from employer - - - -
Dividend income--
Robbins & Myers, Inc. Common Stock - - - -
Dividends and interest 219,993 124,779 12,275 4,662
Transfers in 2,477,019 - 133,430 46,422
----------------------------------------------------------------------------
Total additions 2,888,950 319,663 291,258 143,866
DEDUCTIONS
Withdrawals 324,937 228,091 13,406 2,485
Administrative expenses - - - -
Transfers out - 138,323 - -
----------------------------------------------------------------------------
Total deductions 324,937 366,414 13,406 2,485
Unrealized and realized appreciation
in fair value of investments - 226,943 8,461 685
----------------------------------------------------------------------------
Net (deductions) additions 2,564,013 180,192 286,313 142,066
Assets available for plan
benefits at beginning of year 2,942,595 1,513,746 6,460 5,706
Assets available for plan ============================================================================
benefits at end of year $ 5,506,608 $ 1,693,938 $ 292,773 $ 147,772
============================================================================
<CAPTION>
YEAR ENDED DECEMBER 31, 1996
------------------------------------------------------
T. ROWE
PRICE
STABLE VALUE PARTICIPANT
FUND LOANS TOTAL
------------------------------------------------------
ADDITIONS
<S> <C> <C> <C>
Contributions from employees $ - $ - $ 2,731,442
Contributions from employer - - 1,003,187
Dividend income--
Robbins & Myers, Inc. Common Stock - - 47,197
Dividends and interest 50,070 46,135 1,725,540
Transfers in - 483,890 3,497,978
------------------------------------------------------
Total additions 50,070 530,025 9,005,344
DEDUCTIONS
Withdrawals 166,467 7,477 2,445,396
Administrative expenses - - 2,781
Transfers out 1,884,047 288,312 3,497,978
------------------------------------------------------
Total deductions 2,050,514 295,789 5,946,155
Unrealized and realized appreciation
in fair value of investments - - 4,557,238
------------------------------------------------------
Net (deductions) additions (2,000,444) 234,236 7,616,427
Assets available for plan
benefits at beginning of year 2,000,444 380,876 23,699,368
Assets available for plan ======================================================
benefits at end of year $ - $ 615,112 $ 31,315,795
======================================================
</TABLE>
10
<PAGE> 13
Robbins & Myers, Inc.
Employees Savings Plan
Notes to Financial Statements (continued)
5. INCOME TAX STATUS
The Internal Revenue Service ruled on November 4, 1996 that the Plan qualifies
under Section 401(a) of the Internal Revenue Code (IRC) and, therefore, the
related trust is not subject to tax under present income tax law. Once
qualified, the Plan is required to operate in conformity with the IRC to
maintain its qualification. The Corporate Benefits Committee is not aware of any
course of action or series of events that have occurred that might adversely
affect the Plan's qualified status.
6. TRANSACTIONS WITH PARTIES-IN-INTEREST
As of December 31, 1997, the Plan held 321,199 shares of Robbins & Myers, Inc.
common stock in a company stock fund. During 1997, approximately 105,000 shares
were purchased at a cost of $3,418,924.
7. YEAR 2000 ISSUE (UNAUDITED)
The plan sponsor has developed a plan to modify its internal information
technology to be ready for the Year 2000 and has begun converting critical data
processing systems. The project also includes determining whether third-party
service providers have reasonable plans in place to become Year 2000 compliant.
The plan sponsor currently expects the project to be substantially complete by
early 1999. The plan sponsor does not expect this project to have a significant
effect on plan operations.
<PAGE> 14
SUPPLEMENTAL SCHEDULES
<PAGE> 15
Robbins & Myers, Inc.
Employee Savings Plan
Line 27a - Schedule of Assets Held for Investment Purposes
EIN 31-0424220-011
December 31, 1997
<TABLE>
<CAPTION>
SHARES/ CURRENT
DESCRIPTION OF INVESTMENT UNITS COST VALUE
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Robbins & Myers, Inc. Common Stock Fund 321,199 $ 6,576,436 $ 12,729,103
Vanguard Wellington Fund 157,290 3,714,251 4,632,182
Vanguard Windsor Fund 556,228 8,755,332 9,444,758
VMMR Prime Portfolio 578,929 578,929 578,929
Vanguard Index Small Capitalization
Portfolio 61,885 1,179,325 1,469,757
Vanguard Windsor II 80,038 1,535,268 2,290,683
Vanguard Index 500 Portfolio 18,787 1,422,490 1,692,100
Vanguard U.S. Growth Fund 79,430 1,783,248 2,279,650
VBIF Total Bond Market Fund 38,012 377,420 383,537
Vanguard Investment Contract Trust 5,260,914 5,260,914 5,260,914
Vanguard International Growth Portfolio 26,547 443,067 435,105
=====================================
$ 31,626,680 $ 41,196,718
=====================================
</TABLE>
12
<PAGE> 16
Robbins & Myers, Inc.
Employee Savings Plan
Line 27a - Schedule of Assets Held for Investment Purposes
EIN 31-0424220-011
December 31, 1997
<TABLE>
<CAPTION>
DESCRIPTION NUMBER NUMBER
IDENTITY OF OF OF PURCHASE OF SELLING
PARTY INVOLVED ASSETS PURCHASES PRICE SALES PRICE
- -----------------------------------------------------------------------------------------------------------------------
CATEGORY (III)--A SERIES OF TRANSACTIONS IN EXCESS OF 5 PERCENT OF PLAN ASSETS
<S> <C> <C> <C> <C> <C>
Robbins & Myers, Inc.
Common Stock Shares 113 $ 3,418,924 - $ -
Robbins & Myers, Inc.
Common Stock Shares - - 135 2,217,106
Vanguard Windsor Participating
Fund Units 80 3,468,069 - -
Vanguard Windsor Participating
Fund Units - - 109 1,566,694
Vanguard Investment Participating
Contract Trust Units 86 1,073,042 - -
Vanguard Investment Participating
Contract Trust Units - - 95 1,304,308
Vanguard Index 500 Participating
Portfolio Units 88 1,371,439 - -
Vanguard Index 500 Participating
Portfolio Units - - 69 607,407
<CAPTION> NET
IDENTITY OF HISTORICAL CURRENT GAIN
PARTY INVOLVED COST VALUE (LOSS)
- -------------------------------------------------------------------------------------------------------
CATEGORY (III)--A
SERIES OF TRANSACTIONS IN EXCESS OF 5 PERCENT OF PLAN ASSETS
<S> <C> <C> <C>
Robbins & Myers, Inc.
Common Stock $ - $ 3,418,924 $ -
Robbins & Myers, Inc.
Common Stock 1,500,227 2,217,106 716,879
Vanguard Windsor
Fund - 3,468,069 -
Vanguard Windsor
Fund 1,392,660 1,566,694 174,033
Vanguard Investment
Contract Trust - 1,073,042 -
Vanguard Investment
Contract Trust 1,304,308 1,304,308 -
Vanguard Index 500
Portfolio - 1,371,439 -
Vanguard Index 500
Portfolio 539,216 607,407 68,191
</TABLE>
There were no category (i), (ii), or (iv) reportable transactions for the year.
13
