The Timken Company, Canton, OH, reported sales of $1.54 billion in the second quarter of 2008, an increase of 14% over the same period a year ago. Profit improved 60% to $88.9 million from second quarter 2007.
Strong sales in global industrial markets offset the impact of weaker North American automotive demand. During the quarter, the company benefited from its capacity-expansion initiatives, as well as the favorable impact of pricing, surcharges and currency.
For the first half of 2008, sales were $2.97 billion, an increase of 13% from the same period in 2007. Profit for the first six months of 2008 was $173 million, up 33.5% over the same period a year ago.
Segment Results
The Bearings and Power Transmission Group had second-quarter …
Timken Sales Up 14% in 2Q
The Timken Company, Canton, OH, reported sales of $1.54 billion in the second quarter of 2008, an increase of 14% over the same period a year ago. Profit improved 60% to $88.9 million from second quarter 2007.
Strong sales in global industrial markets offset the impact of weaker North American automotive demand. During the quarter, the company benefited from its capacity-expansion initiatives, as well as the favorable impact of pricing, surcharges and currency.
For the first half of 2008, sales were $2.97 billion, an increase of 13% from the same period in 2007. Profit for the first six months of 2008 was $173 million, up 33.5% over the same period a year ago.
Segment Results
The Bearings and Power Transmission Group had second-quarter …
Share this article
About the Author
Recommended Reading
Leave a Reply
Log In
Read the latest articles and see your reports.
Popular Now
MDM Directories
Sign Up for the MDM Update Newsletter
The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.
