Timken’s net income tumbles in 3d qtr.

Oct 24, 2013 | 01:00 PM | Corinna Petry

Tags  Timken, quarterly earnings, steel, James Griffith, bearings, power transmission, Corinna Petry

CHICAGO — Timken Co.’s earnings slumped in the third quarter due in part to weaker demand from its broad end markets, as well as lower volume and manufacturing utilization.

The Canton, Ohio-based steelmaker and bearings producer reported net income of $52.2 million for the three months ended Sept. 30, down 35.5 percent from $80.9 million in the same period last year, on sales that fell 7.1 percent to $1.06 billion from $1.14 billion.....

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