Timken’s net tumbles on lower demand

Apr 24, 2013 | 04:07 PM | Corinna Petry

Tags  Timken Co., quarterly earnings, James Griffith, steel, bearings, acquisitions, Corinna Petry

CHICAGO — Timken Co.’s net income plunged year on year in the first quarter, but the company managed to sustain double-digit operating margins despite low levels of capacity utilization, the company’s top executive said.

"We saw orders increase as the quarter unfolded and we remain confident in our ability to drive improved profitability throughout the remainder of the year," president and chief executive officer James W. Griffith said in a statement April 24.....

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