Exhibit 99.1
 
News Release
 
JBT Corporation
70 W. Madison, Suite 4400
Chicago, IL 60602
 
  For Release: Immediate
 
Investors:
Cindy Shiao
(312) 861-5931
Media:
Ken Jones
(312) 861-6791
 
 
JBT Corporation Reports Fourth Quarter 2010 Results
 
Fourth quarter highlights (continuing operations):
 
o
Diluted earnings per share of $0.56 up 51 percent year-over-year
 
o
Revenue of $287 million up 17 percent versus prior-year quarter
 
o
Inbound orders of $231 million up 19 percent year-over-year
 
o
Backlog of $287 million up 36 percent year-over-year
 
Full-year 2010 highlights (continuing operations):
 
o
Diluted earnings per share of $1.30 up 13 percent year-over-year
 
o
Revenue of $880 million up 5 percent from 2009
 
o
Debt, net of cash, of $133.4 million at year end

CHICAGO, March 1, 2011—JBT Corporation
(NYSE: JBT), a leading global technology solutions provider to the food processing and air transportation industries, today reported fourth quarter 2010 results.
 
Revenue for the quarter was $286.6 million, up 17 percent from the prior-year quarter.  Gross profit margin increased 100 basis points to 25.6 percent from the same period last year.  Fourth quarter diluted earnings per share from continuing operations were $0.56, up 51 percent from $0.37 for the same period a year ago.  During the quarter, the Company benefitted from $2.0 million in lower LIFO reserves due to lower inventory levels and less inflation than previously assumed.  Additionally, the Company recorded restructuring charges of $2.8 million in connection with its initiatives to continue to reduce operating costs.  The net impact of these two items was a reduction of $0.02 in diluted earnings per share.  Operating income as a percent of revenue increased 280 basis points in the fourth quarter to 9.9 percent, driven primarily by improved profitability from higher volume.  Fourth quarter inbound orders of $231.1 million and backlog of $286.8 million increased from the prior-year quarter by 19 percent and 36 percent, respectively.  Debt, net of cash, was $133.4 million at quarter end, essentially unchanged from the third quarter of 2010.
 
Full-year revenue of $880.4 million was up five percent versus 2009.  Gross profit margin of 26.2 percent was flat versus 2009.  The Company recorded $3.7 million in restructuring charges during 2010 versus $3.9 million in 2009.  Operating income as a percent of revenue increased 70 basis points to 7.6 percent.  Full-year operating income was $67.1 million, up 16 percent from last year.  Full-year diluted earnings per share from continuing operations were $1.30, a 13 percent increase compared to 2009.
 
 
 
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The following information was filed by John Bean Technologies Corp (JBT) on Wednesday, March 2, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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