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Article: Timken Reports Third-Quarter Results.(Financial report)
- Article from:
- Business Wire
- Article date:
- October 29, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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* Cost controls and working-capital management drive third-quarter earnings and cash flow
* Company increases full-year earnings estimate
* Needle Roller Bearings business sale on track for year-end completion
CANTON, Ohio -- The Timken Company (NYSE: TKR) today reported sales of $763.6 million for the third quarter of 2009, a decrease of 43 percent over the same period a year ago. The sales decline reflects weaker demand in many of the company's end markets and lower surcharges, partially offset by improved pricing. Sales for all periods exclude the results of the Needle Roller Bearings business, accounted for as "discontinued operations."
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