The Timken Co. (NYSE: TKR), Canton, Ohio, reported second-quarter sales of $1 billion, up 10.3% from the same period a year ago. The company posted net income of $92.5 million compared with net income of $91 million in the year-ago period.
The increase was primarily driven by the benefit of acquisitions and organic growth in the Process Industries segment, partially offset by unfavorable foreign currency translation, the company said.
For the first six months sales increased 10.6% to $1.98 billion. Profit rose 7.7% to $184.4 million.