Milacron's Sales, Margins and Operating Earnings Continue to Improve

CINCINNATI--(Business Wire)--
Milacron Inc. (PINK SHEETS: MZIA), a leading global supplier of
plastics-processing technologies and industrial fluids, today reported
a net loss for the second quarter ending June 30 of $3.1 million, or
$1.04 per share, compared to a net loss of $0.1 million, or $0.50 per
share, in the second quarter of 2007. The net loss in the second
quarter of 2008 included restructuring and other non-recurring charges
of $4.3 million, while the loss a year ago included $1.5 million in
restructuring charges as well as a tax benefit of $4.9 million.

Thanks to aggressive restructuring and other cost-cutting actions
implemented over the past year, manufacturing margins in the second
quarter rose sharply to 22.3% from 19.6% a year ago, and operating
earnings more than doubled to $6.5 million from $2.6 million. Most of
the profitability improvement came from the company's North American
plastics machinery and mold technologies businesses, reflecting the
success of measures taken to offset the ongoing weakness in the
automotive and construction sectors.

Sales in the second quarter were $216 million, up from $197
million last year. Favorable currency translation effects - primarily
the weak dollar and the strong euro - accounted for about two-thirds
of the increase. New orders in the quarter declined, however, to $194
million, from $202 million in the second quarter last year, despite
favorable currency effects. The order decline was primarily in the
machinery businesses in both North America and Western Europe.

Net cash used by operations during the quarter was $6.4 million,
up from $3.9 million a year ago, primarily the result of $4.6 million
in pension contributions made during the quarter. At the end of the
quarter, cash on hand was close to $40 million, about $8 million
higher than a year ago, and the company had approximately $48 million
available for borrowing under its main revolving credit facilities, up
from $33 million last year.

"Our ongoing efforts to reduce product costs and our overall cost
structure are paying off," said Ronald D. Brown, chairman, president
and chief executive officer. "This is showing up in significantly
improved operating margins despite rising material costs and difficult
market conditions in North America. Our push to increase our presence
outside the U.S., Canada and Western Europe continues to show results.
Sales to these non-traditional markets in the second quarter were up
25% from a year ago and now account for close to 25% of our total
sales."

Segment Results

Machinery Technologies-North America (machinery and related parts
and services for injection molding, blow molding and extrusion
supplied from North America, India and China) Segment sales grew to
$95 million compared to $92 million in the second quarter last year,
despite ongoing weakness in the automotive and construction sectors of
the plastics machinery market in North America. Sales of equipment and
supplies for extrusion and blow molding posted modest declines from
year-ago levels, while injection molding machinery sales, helped by
continued strong growth in India and China, showed solid gains.
Benefiting from cost-cutting and other efficiency improvements over
the past several quarters, segment earnings rose sharply to $8.0
million, up from $2.8 million in the first quarter of this year and
from $4.9 million in the year-ago quarter. Despite good increases from
Asia, segment new orders fell to $83 million from $90 million in the
second quarter last year.

Machinery Technologies-Europe (machinery and related parts and
services for injection molding and blow molding supplied from Europe)
Boosted by increases in shipments of blow molding systems, sales rose
to $50 million, up from $40 million in the second quarter last year.
Favorable currency translation effects accounted for more than half
the gain. Held back by rising material costs, segment operating
earnings of $0.4 million still showed an improvement over a $0.4
million loss in the first quarter but were essentially flat compared
to the second quarter a year ago. Despite favorable currency
translation effects, new orders fell to $41 million from $45 million
in the second quarter of 2007.

Mold Technologies (mold bases and related parts and services, as
well as maintenance, repair and operating supplies for injection
molding worldwide) Sales in the second quarter of $38 million were up
from $36 million a year ago. Restructuring actions to eliminate fixed
costs and increased global sourcing initiatives helped improve segment
earnings to $1.0 million compared to $0.5 million in the first quarter
and a loss of $0.8 million a year ago.

Industrial Fluids (water-based and oil-based coolants, lubricants
and cleaners for metalcutting and metalforming operations worldwide)
Favorable currency translation effects helped offset declines in the
North American market, as sales reached a record quarterly high for
this segment of $35 million, up from $32 million a year ago. Segment
earnings improved to $4.6 million over $3.2 million in the year-ago
quarter primarily due to better pricing and cost-reduction
initiatives, which combined were able to offset material cost
increases.

Outlook

"Our outlook for the year, which we presented back in May, remains
the same," Brown said. "We expect year-over-year improvement in our
operating results throughout 2008 despite the ongoing weakness in our
North American markets. The significant cost-reduction measures we are
executing, combined with strategic sourcing initiatives and price
increases of our own, are more than offsetting rising energy and
material costs. So, even with the economic headwinds we're currently
facing, we expect 2008 to be a better year for Milacron."

Dividends and Stock

No dividends were declared this quarter on Milacron common or
preferred stock.

Milacron is withdrawing its common stock from listing on the NSX
(National Stock Exchange, formerly the Cincinnati Stock Exchange) as
it no longer meets a listing standard that requires net earnings of
$200,000 annually before taxes for two prior years excluding
non-recurring income. Milacron was one of only two remaining companies
still listed on NSX. Withdrawal from the NSX is expected to have no
material impact on the company's stock or related trading.

The forward-looking statements above by their nature involve risks
and uncertainties that could significantly impact operations, markets,
products and expected results. For further information please refer to
the Cautionary Statement included in the company's most recent Form
10-Q on file with the Securities and Exchange Commission.

Investor Conference Call

Today at 1:00 p.m. EDT, Milacron will hold an open investor
conference call, which can be accessed live at www.milacron.com. For
analysts and investors wishing to ask questions, the dial-in number
will be 719-325-4883 or toll-free 877-545-1491. A recording of the
conference call will be available starting 4:00 p.m. on July 31
through midnight August 13 on the company's website or by
phone: 719-457-0820 or toll-free 888-203-1112 and providing the access
code: 4287367.

First incorporated in 1884, Milacron is a leading global supplier
of plastics-processing technologies and industrial fluids, with major
manufacturing facilities in North America, Europe and Asia. For
further information, visit www.milacron.com or call Milacron's
toll-free investor line: (800) 909-6452.

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Milacron Inc. and Subsidiaries

Second Quarter 2008

----------------------------------------------------------------------
Three Months Ended Six Months Ended
June 30, June 30,
--------------------------- ---------------------------
2008 2007 2008 2007
----------------------------------------------------------------------

Sales $215,719,000 $197,295,000 $418,514,000 $387,597,000

Loss from
continuing
operations (3,107,000) (388,000) (9,971,000) (11,052,000)
Per Share
Basic (1.04) (0.55) (2.79) (3.21)
Diluted (1.04) (0.55) (2.79) (3.21)

Earnings from
discontinued
operations - 265,000 - 135,000
Per Share
Basic - 0.05 - 0.03
Diluted - 0.05 - 0.03

Net loss (3,107,000) (123,000) (9,971,000) (10,917,000)
Per Share
Basic (1.04) (0.50) (2.79) (3.18)
Diluted (1.04) (0.50) (2.79) (3.18)

Common shares
Weighted
average
outstanding
for basic
EPS 5,258,000 4,925,000 5,242,000 4,910,000
Weighted
average
outstanding
for diluted
EPS 5,258,000 4,925,000 5,242,000 4,910,000
Outstanding
at quarter
end 5,485,000 5,493,000 5,485,000 5,493,000

----------------------------------------------------------------------

Notes:
These statements are unaudited and subject to year-end adjustments.
Per-share amounts include accruals for preferred dividends and effect
of beneficial conversion feature.
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Consolidated Earnings
Milacron Inc. and Subsidiaries

Second Quarter 2008

----------------------------------------------------------------------
(In millions, except per-share Three Months Ended Six Months Ended
data)
June 30, June 30,
------------------ ----------------
2008 2007 2008 2007
----------------------------------------------------------------------

Sales $215.7 $197.3 $418.5 $387.6
Cost of products sold 167.5 158.6 331.7 313.4
---------- ------- -------- -------
Manufacturing margins 48.2 38.7 86.8 74.2
Percent of sales 22.3% 19.6% 20.7% 19.1%

Other costs and expenses
Selling and administrative 37.9 34.9 73.9 70.2
Restructuring and other costs 4.3 1.5 4.9 3.9
Other income - net (0.5) (0.3) - (0.5)
---------- ------- -------- -------
Total other costs and
expenses 41.7 36.1 78.8 73.6
---------- ------- -------- -------

Operating earnings 6.5 2.6 8.0 0.6

Interest expense - net (8.2) (7.9) (16.2) (15.6)
---------- ------- -------- -------

Loss from continuing operations
before
income taxes (1.7) (5.3) (8.2) (15.0)

Provision (benefit) for income
taxes 1.4 (4.9) 1.8 (3.9)
---------- ------- -------- -------

Loss from continuing operations (3.1) (0.4) (10.0) (11.1)

Discontinued operations - net of
income taxes (a) - 0.3 - 0.2
---------- ------- -------- -------

Net loss $ (3.1) $ (0.1) $(10.0) $(10.9)
========== ======= ======== =======

Earnings (loss) per common share -
basic and diluted
Continuing operations $(1.04) $(0.55) $(2.79) $(3.21)
Discontinued operations - 0.05 - 0.03
---------- ------- -------- -------
Net loss $(1.04) $(0.50) $(2.79) $(3.18)
========== ======= ======== =======

(a) In 2007, represents adjustments of reserves related to prior
divestitures.

----------------------------------------------------------------------

Notes:
These statements are unaudited and subject to year-end adjustments.
Per-share amounts include accruals for preferred dividends and effect
of beneficial conversion feature.
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Consolidated Balance Sheets
Milacron Inc. and Subsidiaries

Second Quarter 2008

----------------------------------------------------------------------
(In millions) June 30, June 30,
2008 2007
----------------------------------------------------------------------

Assets
Cash and cash equivalents $ 39.5 $ 31.3
Notes and accounts receivable-net 126.0 115.5
Inventories 198.8 173.1
Other current assets 32.2 47.7
-------- --------
Total current assets 396.5 367.6
Property, plant and equipment - net 107.2 110.8
Goodwill 93.0 88.4
Other noncurrent assets 39.6 88.2
-------- --------
Total assets $ 636.3 $ 655.0
======== ========

Liabilities and shareholders' deficit
Short-term borrowings and long-term debt due within
one year $ 41.6 $ 34.4
Trade accounts payable and advance billings and
deposits 120.4 105.4
Accrued and other current liabilities 83.6 76.0
-------- --------
Total current liabilities 245.6 215.8
Long-term accrued liabilities 192.7 231.5
Long-term debt 246.3 232.5
Shareholders' deficit (48.3) (24.8)
-------- --------
Total liabilities and shareholders' deficit $ 636.3 $ 655.0
======== ========

----------------------------------------------------------------------

Note: These statements are unaudited and subject to year-end
adjustments.
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Consolidated Cash Flows
Milacron Inc. and Subsidiaries

Second Quarter 2008

----------------------------------------------------------------------
(In millions) Three Months Ended Six Months Ended
June 30, June 30,
------------------ ----------------
2008 2007 2008 2007
----------------------------------------------------------------------

Increase (decrease) in cash and
cash equivalents
Operating activities cash flows
Net loss $ (3.1) $(0.1) $ (10.0) $(10.9)
Discontinued operations - net
of income taxes - (0.3) - (0.2)
Depreciation and amortization 3.6 4.1 7.2 8.1
Non-cash restructuring and
other costs 2.6 0.2 2.8 0.5
Working capital changes
Notes and accounts
receivable 6.7 (5.0) (7.7) (0.1)
Inventories (6.6) (2.2) (13.6) (2.5)
Other current assets 1.7 (4.7) 4.4 (5.4)
Trade accounts payable 4.0 8.4 (0.9) 0.3
Other current liabilities (10.2) (3.3) (3.5) (4.4)
Deferred income taxes and other
- net (5.1) (1.0) (4.2) 4.0
----------- ------ -------- -------
Net cash used by operating
activities (6.4) (3.9) (25.5) (10.6)

Investing activities cash flows
Capital expenditures (2.2) (2.1) (4.8) (3.7)
Net disposals of property,
plant and equipment 0.6 0.1 0.6 0.2
----------- ------ -------- -------
Net cash used by investing
activities (1.6) (2.0) (4.2) (3.5)

Financing activities cash flows
Issuance (repayments) of long-
term debt (0.2) (0.2) 14.3 (0.4)
Increase in short-term
borrowings 11.1 2.3 12.3 6.6
Dividends paid - - (0.1) (0.1)
----------- ------ -------- -------
Net cash provided by
financing activities 10.9 2.1 26.5 6.1

Effect of exchange rate
fluctuations on cash and cash
equivalents (0.2) 0.6 1.9 0.8
----------- ------ -------- -------
Increase (decrease) in cash and
cash equivalents 2.7 (3.2) (1.3) (7.2)

Cash and cash equivalents at
beginning of period 36.8 34.5 40.8 38.5

----------- ------ -------- -------
Cash and cash equivalents at end
of period $ 39.5 $31.3 $ 39.5 $ 31.3
=========== ====== ======== =======

----------------------------------------------------------------------

Note: These statements are unaudited and subject to year-end
adjustments.
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Segment and Supplemental Information
Milacron Inc. and Subsidiaries

Second Quarter 2008

----------------------------------------------------------------------
(In millions) Three Months Ended Six Months Ended
June 30, June 30,
------------------ ----------------
2008 2007 2008 2007
----------------------------------------------------------------------

Machinery technologies North
America
Sales $ 95.3 $ 91.5 $ 187.7 $182.6
Operating cash flow (a) 9.3 6.5 13.4 9.9
Segment earnings 8.0 4.9 10.8 6.7
Percent of sales 8.4% 5.4% 5.8% 3.7%
New orders 83.1 90.1 177.0 188.0

Machinery technologies Europe
Sales $ 50.0 $ 40.2 $ 94.0 $ 74.6
Operating cash flow (a) 1.4 1.2 1.9 1.0
Segment earnings (loss) 0.4 0.3 - (0.9)
Percent of sales 0.8% 0.7% 0.0% -1.2%
New orders 41.4 45.1 84.0 91.7

Mold technologies
Sales $ 37.8 $ 35.8 $ 75.8 $ 73.7
Operating cash flow (a) 1.7 0.3 3.0 1.7
Segment earnings (loss) 1.0 (0.8) 1.5 (0.5)
Percent of sales 2.6% -2.2% 2.0% -0.7%
New orders 37.7 36.5 75.5 73.2

Eliminations
Sales $ (2.8) $ (2.4) $ (5.9) $ (5.2)
New orders (3.9) (2.1) (6.8) (4.9)

Total plastics technologies
Sales $ 180.3 $165.1 $ 351.6 $325.7
Operating cash flow (a) 12.4 8.0 18.3 12.6
Segment earnings 9.4 4.4 12.3 5.3
Percent of sales 5.2% 2.7% 3.5% 1.6%
New orders 158.3 169.6 329.7 348.0

Industrial fluids
Sales $ 35.4 $ 32.2 $ 66.9 $ 61.9
Operating cash flow (a) 5.1 3.6 8.4 7.2
Segment earnings 4.6 3.2 7.5 6.5
Percent of sales 13.0% 9.9% 11.2% 10.5%
New orders 35.4 32.2 66.8 61.9

Total continuing operations
Sales $ 215.7 $197.3 $ 418.5 $387.6
Operating cash flow (a) 14.4 8.2 20.1 12.6
Segment earnings 14.0 7.6 19.8 11.8
Restructuring and other costs (4.3) (1.5) (4.9) (3.9)
Corporate expenses (3.1) (3.4) (6.6) (7.1)
Other unallocated expenses (0.1) (0.1) (0.3) (0.2)
---------- ------- -------- -------
Operating earnings 6.5 2.6 8.0 0.6
Percent of sales 3.0% 1.3% 1.9% 0.2%
New orders 193.7 201.8 396.5 409.9
Ending backlog 110.8 132.1 110.8 132.1

(a) Represents EBITDA (earnings before interest, income taxes,
depreciation and amortization) before restructuring and other costs.

----------------------------------------------------------------------

Note: These statements are unaudited and subject to year-end
adjustments.
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Reconciliation of Earnings to Operating Cash Flows
Milacron Inc. and Subsidiaries

Second Quarter 2008

----------------------------------------------------------------------
(In millions) Three Months Ended Six Months Ended
June 30, June 30,
------------------ ----------------
2008 2007 2008 2007
----------------------------------------------------------------------

Machinery technologies North
America
Segment earnings $ 8.0 $ 4.9 $ 10.8 $ 6.7
Depreciation and amortization 1.3 1.6 2.6 3.2
--------- -------- -------- -------
Operating cash flow 9.3 6.5 13.4 9.9

Machinery technologies Europe
Segment earnings (loss) $ 0.4 $ 0.3 $ - $ (0.9)
Depreciation and amortization 1.0 0.9 1.9 1.9
--------- -------- -------- -------
Operating cash flow 1.4 1.2 1.9 1.0

Mold technologies
Segment earnings (loss) $ 1.0 $ (0.8) $ 1.5 $ (0.5)
Depreciation and amortization 0.7 1.1 1.5 2.2
--------- -------- -------- -------
Operating cash flow 1.7 0.3 3.0 1.7

Total plastics technologies
Segment earnings $ 9.4 $ 4.4 $ 12.3 $ 5.3
Depreciation and
amortization 3.0 3.6 6.0 7.3
--------- -------- -------- -------
Operating cash flow 12.4 8.0 18.3 12.6

Industrial fluids
Segment earnings $ 4.6 $ 3.2 $ 7.5 $ 6.5
Depreciation and amortization 0.5 0.4 0.9 0.7
--------- -------- -------- -------
Operating cash flow 5.1 3.6 8.4 7.2

Total continuing operations
Net loss $ (3.1) $ (0.1) $ (10.0) $(10.9)
Discontinued operations - net
of income taxes (a) - (0.3) - (0.2)
Provision (benefit) for income
taxes 1.4 (4.9) 1.8 (3.9)
Interest expense - net 8.2 7.9 16.2 15.6
Restructuring and other costs 4.3 1.5 4.9 3.9
Depreciation and amortization 3.6 4.1 7.2 8.1
--------- -------- -------- -------
Operating cash flow $ 14.4 $ 8.2 $ 20.1 $ 12.6
========= ======== ======== =======

(a) In 2007, represents adjustments of reserves related to prior
divestitures.

----------------------------------------------------------------------

Note: These statements are unaudited and subject to year-end
adjustments.
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Historical Information

----------------------------------------------------------------------
(In millions, except per-share data)

2007
------------------------------------------
Qtr 1 Qtr 2 Qtr 3 Qtr 4 Year
--------------------------------------------------------------

Sales $190.3 $197.3 $203.7 $ 216.6 $ 807.9
Cost of products
sold 154.8 158.6 163.5 168.0 644.9
Cost of products
sold related to
restructuring - - - 0.2 0.2
------- ------- ------- -------- ---------
Total cost of
products
sold 154.8 158.6 163.5 168.2 645.1
------- ------- ------- -------- ---------

Manufacturing
margins 35.5 38.7 40.2 48.4 162.8

Other costs and
expenses
Selling and
administrative 35.3 34.9 35.1 39.3 144.6
Restructuring
and other costs
(a) 2.4 1.5 1.2 7.2 12.3
Change in
preferred stock
ownership costs - - 0.5 1.4 1.9
Pension plan
curtailment
cost - - - 1.9 1.9
Other - net (0.2) (0.3) 0.4 (2.6) (2.7)
------- ------- ------- -------- ---------
Total other
costs and
expenses 37.5 36.1 37.2 47.2 158.0
------- ------- ------- -------- ---------

Operating earnings
(loss) (2.0) 2.6 3.0 1.2 4.8

Interest expense -
net (7.7) (7.9) (8.0) (7.8) (31.4)
------- ------- ------- -------- ---------

Loss from
continuing
operations before
income taxes (9.7) (5.3) (5.0) (6.6) (26.6)

Provision (benefit)
from income taxes
(b) 1.0 (4.9) (0.5) 66.1 61.7
------- ------- ------- -------- ---------

Loss from
continuing
operations (10.7) (0.4) (4.5) (72.7) (88.3)

Discontinued
operations - net
of income taxes
(c)
Net gain (loss)
on divestitures (0.1) 0.3 - 1.0 1.2
------- ------- ------- -------- ---------
Total
discontinued
operations (0.1) 0.3 - 1.0 1.2

------- ------- ------- -------- ---------
Net loss $(10.8) $ (0.1) $ (4.5) $ (71.7) $ (87.1)
======= ======= ======= ======== =========

Earnings (loss) per
common share
Basic
Continuing
operations $(2.66) $(0.55) $(1.36) $(14.52) $(19.48)
Discontinued
operations (0.02) 0.05 - 0.20 0.23
------- ------- ------- -------- ---------
Net loss $(2.68) $(0.50) $(1.36) $(14.32) $(19.25)
======= ======= ======= ======== =========
Diluted
Continuing
operations $(2.66) $(0.55) $(1.36) $(14.52) $(19.48)
Discontinued
operations (0.02) 0.05 - 0.20 0.23
------- ------- ------- -------- ---------
Net loss $(2.68) $(0.50) $(1.36) $(14.32) $(19.25)
======= ======= ======= ======== =========

2008
-----------------------
Qtr 1 Qtr 2 Year
----------------------------------------------------------------------

Sales $202.8 $215.7 $418.5
Cost of products sold 164.2 167.5 331.7
Cost of products sold related to
restructuring - - -
------- ------- -------
Total cost of products sold 164.2 167.5 331.7
------- ------- -------

Manufacturing margins 38.6 48.2 86.8

Other costs and expenses
Selling and administrative 36.0 37.9 73.9
Restructuring and other costs (a) 0.6 4.3 4.9
Change in preferred stock ownership costs - - -
Pension plan curtailment cost - - -
Other - net 0.5 (0.5) -
------- ------- -------
Total other costs and expenses 37.1 41.7 78.8
------- ------- -------

Operating earnings (loss) 1.5 6.5 8.0

Interest expense - net (8.0) (8.2) (16.2)
------- ------- -------

Loss from continuing operations before
income taxes (6.5) (1.7) (8.2)

Provision (benefit) from income taxes (b) 0.4 1.4 1.8
------- ------- -------

Loss from continuing operations (6.9) (3.1) (10.0)

Discontinued operations - net of income
taxes (c)
Net gain (loss) on divestitures - - -
------- ------- -------
Total discontinued operations - - -

------- ------- -------
Net loss $ (6.9) $ (3.1) $(10.0)
======= ======= =======

Earnings (loss) per common share
Basic
Continuing operations $(1.76) $(1.04) $(2.79)
Discontinued operations - - -
------- ------- -------
Net loss $(1.76) $(1.04) $(2.79)
======= ======= =======
Diluted
Continuing operations $(1.76) $(1.04) $(2.79)
Discontinued operations - - -
------- ------- -------
Net loss $(1.76) $(1.04) $(2.79)
======= ======= =======

(a) In 2007 and 2008, primarily represents costs related to the
consolidation of the global mold technologies and plastics machinery
businesses to reduce their cost structures and improve customer
service. In 2008, also includes CEO transition costs.

(b) In 2007, includes a $63 million non-cash charge associated with
the change in ownership of a majority of the company's Series B
Preferred Stock, as announced in October, 2007

(c) In 2007, represents adjustments of reserves related to prior
divestitures.

----------------------------------------------------------------------

Notes:
These statements are unaudited and subject to year-end adjustments.
Per-share amounts include accruals for preferred dividends and effect
of beneficial conversion feature.
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Historical Segment and Supplemental Information

----------------------------------------------------------------------
(In Millions)

2007
---------------------------------------
Qtr 1 Qtr 2 Qtr 3 Qtr 4 Year
---------------------------------------------------------------------

Machinery technologies North
America
Sales $ 91.1 $ 91.5 $ 92.9 $ 91.5 $367.0
Operating cash flow (a) 3.4 6.5 5.1 1.6 16.6
Segment earnings 1.8 4.9 3.8 0.3 10.8
New orders 97.9 90.1 91.4 98.8 378.2

Machinery technologies Europe
Sales $ 34.4 $ 40.2 $ 45.5 $ 60.4 $180.5
Operating cash flow (a) (0.2) 1.2 1.8 4.5 7.3
Segment earnings (loss) (1.2) 0.3 0.9 3.3 3.3
New orders 46.6 45.1 46.3 50.5 188.5

Mold technologies
Sales $ 37.9 $ 35.8 $ 36.9 $ 37.6 $148.2
Operating cash flow (a) 1.4 0.3 0.8 3.9 6.4
Segment earnings (loss) 0.3 (0.8) (0.4) 2.8 1.9
New orders 36.7 36.5 37.4 37.2 147.8

Eliminations
Sales $ (2.8) $ (2.4) $ (2.4) $ (4.2) $(11.8)
New orders (2.8) (2.1) (3.4) (4.6) (12.9)

Total plastics technologies
Sales $160.6 $165.1 $172.9 $185.3 $683.9
Operating cash flow (a) 4.6 8.0 7.7 10.0 30.3
Segment earnings 0.9 4.4 4.3 6.4 16.0
New orders 178.4 169.6 171.7 181.9 701.6

Industrial fluids
Sales $ 29.7 $ 32.2 $ 30.8 $ 31.3 $124.0
Operating cash flow (a) 3.6 3.6 4.0 7.0 18.2
Segment earnings 3.3 3.2 3.5 6.6 16.6
New orders 29.7 32.2 30.8 31.3 124.0

Total continuing operations
Sales $190.3 $197.3 $203.7 $216.6 $807.9
Operating cash flow (a) 4.4 8.2 8.6 16.0 37.2
Segment earnings 4.2 7.6 7.8 13.0 32.6
Restructuring and other
costs (b) (2.4) (1.5) (1.2) (7.4) (12.5)
Change in preferred stock
ownership costs - - (0.5) (1.4) (1.9)
Pension plan curtailment
cost - - - (1.9) (1.9)
Corporate expenses (3.7) (3.4) (3.0) (1.0) (11.1)
Other unallocated expenses (0.1) (0.1) (0.1) (0.1) (0.4)
------- ------- ------- ------- -------
Operating earnings (loss) (2.0) 2.6 3.0 1.2 4.8
Percent of sales -1.1% 1.3% 1.5% 0.6% 0.6%
New orders 208.1 201.8 202.5 213.2 825.6
Ending backlog 126.6 132.1 131.2 129.1 129.1

2008
-----------------------
Qtr 1 Qtr 2 Year
------------------------------------------------------ ------- -------

Machinery technologies North America
Sales $ 92.4 $ 95.3 $187.7
Operating cash flow (a) 4.1 9.3 13.4
Segment earnings 2.8 8.0 10.8
New orders 93.9 83.1 177.0

Machinery technologies Europe
Sales $ 44.0 $ 50.0 $ 94.0
Operating cash flow (a) 0.5 1.4 1.9
Segment earnings (loss) (0.4) 0.4 -
New orders 42.6 41.4 84.0

Mold technologies
Sales $ 38.0 $ 37.8 $ 75.8
Operating cash flow (a) 1.3 1.7 3.0
Segment earnings (loss) 0.5 1.0 1.5
New orders 37.8 37.7 75.5

Eliminations
Sales $ (3.1) $ (2.8) $ (5.9)
New orders (2.9) (3.9) (6.8)

Total plastics technologies
Sales $171.3 $180.3 $351.6
Operating cash flow (a) 5.9 12.4 18.3
Segment earnings 2.9 9.4 12.3
New orders 171.4 158.3 329.7

Industrial fluids
Sales $ 31.5 $ 35.4 $ 66.9
Operating cash flow (a) 3.3 5.1 8.4
Segment earnings 2.9 4.6 7.5
New orders 31.4 35.4 66.8

Total continuing operations
Sales $202.8 $215.7 $418.5
Operating cash flow (a) 5.7 14.4 20.1
Segment earnings 5.8 14.0 19.8
Restructuring and other costs (b) (0.6) (4.3) (4.9)
Change in preferred stock ownership costs - - -
Pension plan curtailment cost - - -
Corporate expenses (3.5) (3.1) (6.6)
Other unallocated expenses (0.2) (0.1) (0.3)
------- ------- -------
Operating earnings (loss) 1.5 6.5 8.0
Percent of sales 0.7% 3.0% 1.9%
New orders 202.8 193.7 396.5
Ending backlog 134.1 110.8 110.8

(a) Represents EBITDA (earnings before interest, income taxes,
depreciation and amortization) before restructuring and other costs.

(b) In 2007 and 2008, primarily represents costs related to the
consolidation of the global mold technologies and plastics machinery
businesses to reduce their cost structures and improve customer
service. In 2008, also includes CEO transition costs.

----------------------------------------------------------------------

Note: These statements are unaudited and subject to year-end
adjustments.
*T

-0-
*T
Updated: July 31, 2008

Note: The amounts below are approximate working estimates, around
which an even wider range of numbers could be used for financial
modeling purposes. These estimates, by their nature, involve a great
number of risks and uncertainties. Actual results may differ as these
risks and uncertainties could significantly impact the company's
markets, products, and operations. For further information please
refer to the Cautionary Statement included in Item 2 of the company's
most recent Form 10-Q on file with the Securities and Exchange
Commission.

----------------------------------------------------------------------
Quarter Ended
------------------
(In millions) September 30, 2008
----------------------------------------------------------------------

Projected profit & loss items
Sales (1) $195 - 208
Total plastics technologies 164 - 174
Industrial fluids 31 - 34
Segment earnings
Total plastics technologies 3.5 - 6.5
Industrial fluids 2.5 - 3.5
Corporate expenses 2 - 3
Interest expense - net 8 - 9
Provision for income taxes 0 - 1
Restructuring and other costs 2 - 3
Net earnings (loss) after tax (2) (10) - (2)
Average shares outstanding - basic 5
Average shares outstanding - diluted 11

Earnings per share (3) ($2.35) - ($0.80)

Projected cash flow & balance sheet items
Depreciation and amortization 3 - 4
Primary working capital - decrease (4) 10 - 15
Cash pension contribution 24 - 25
Capital expenditures, net 2 - 3
Cash interest 0 - 1
Cash dividends less than 1
Cash tax less than 1
Cash restructuring 0 - 1

1 Quarter ended September 30, 2008 increased approximately $9
million over the same period a year ago due due to the
strengthening of the Euro.

2 Includes $0.6 million of non-cash expense related to the U.S.
defined benefit plan in quarter ended September 30, 2008.

3 Per share amounts include accruals for preferred dividends and
effect of beneficial conversion feature.

4 Inventory + receivables - trade payables - advance billings

Comments & explanations

Assumes quarter ended June 30, 2008 foreign exchange rates (e.g.,
USD/EUR = 1.56650), and no further acquisitions or divestitures.
*T

Milacron Inc.
Al Beaupre, 513-487-5918
albert.beaupre@milacron.com

Copyright Business Wire 2008