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Timken Sales Decrease 13% in 2013

The Timken Company (NYSE: TKR), Canton, OH, reported full year sales for 2013 of $4.3 billion, a decrease of 13 percent from the previous year. The decline reflects lower demand across most of the company's broad end markets.

Profit decreased 47 percent to $262.7 million.

Sales for the fourth quarter were $1.1 billion, a 2 percent decrease over the same period a year ago. Profit decreased 30 percent to $52.6 million.

The fourth-quarter sales decrease primarily reflects lower demand from the industrial, mining, heavy-truck and light-vehicle end-market sectors. From a geographic perspective, the decline primarily reflects lower demand in North America, partially offset by growth in Asia.

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