The Timken Co. (NYSE: TKR), Canton, OH, reported fourth-quarter sales of $910 million, up 17 percent compared with the year-ago period. The company reported $60 million in profit for the quarter.
Timken said the fourth-quarter sales increase was driven by continued growth across most end markets, as well as the favorable impact of acquisitions and pricing, partially offset by unfavorable currency.
For the full year, sales grew 19 percent to $3.6 billion, driven by broad organic growth across most end-market sectors, as well as the favorable impact of acquisitions and pricing, the company said. Net income for the year was $302.8 million.
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