Timken net income drops in 4th qtr.
Jan 25, 2013 | 04:20 PM
| Stacy Irish
Tags
Timken,
engineered bar,
tubing,
James Griffith,
earnings,
Stacy Irish
NEW YORK — Engineered steel bar and tube producer Timken Co. posted a 31-percent decline in net income to $75.3 million for fourth-quarter 2012, largely due to lower volumes, lower material surcharges and higher manufacturing costs.
The lower earnings were partially offset by favorable pricing, lower material costs and a lower tax rate, the company said.....
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