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Article: Timken Reports 2Q Financial Results
- Article from:
- Wireless News
- Article date:
- August 4, 2009
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Wireless News
08-04-2009
Timken Reports 2Q Financial Results
Type: News
The Timken Company announced it has reported sales of $828.9 million for the second quarter of 2009, a decrease of 46 percent over the same period a year ago.
In a July 29 release, Timken announced that the decline in sales was due to weaker demand across most of the company's end markets, lower steel surcharges and currency, which were partially offset by improved pricing.
For the quarter, the company incurred a loss of $64.5 million, or $0.67 per share, compared with income of $88.9 million, or $0.92 per diluted share, a year ago. Excluding special items, the second- quarter loss was $20.6 million, or $0.21 per ...