Weak demand hits Timken’s earnings
Oct 25, 2012 | 04:30 PM
| Corinna Petry
CHICAGO Timken Co.s third-quarter net income fell 27.1 percent on sales that dropped 13.6 percent vs. the same year-ago period.
The drop reflects weaker demand in many of its end markets and lower surcharges, partially offset by better pricing and lower manufacturing costs, as well as revenue from an acquisition.
Canton, Ohio-based Timken posted net income of $80.9 million for the three months ended Sept. 30 on sales of $1.14 billion. That compares with third-quarter 2011 net income of $111 million on sales of $1.32 billion.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.