Profit increases 17.8 percent in first quarter.
Latest In Oilwell Varco
Company's sales up 8.6% in fourth quarter.
The business intends to operate under the name DistributionNOW.
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The distribution & transmission segment saw a 2 percent sales increase.
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The spin-off would create two stand-alone, publicly traded corporations.
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Distribution & transmission sales were up 66 percent.
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Distribution & Transmission sales jumped 118 percent due to 2012 mergers.
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Shareholders will receive $60 for each Robbins & Myers Common Share.
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Fourth-quarter revenues for the Distribution & Transmission segment were up 126 percent.
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