The Timken Company (NYSE: TKR), Canton, OH, reported full year sales for 2014 of $3.1 billion, a slight increase of 1.3 percent from the previous year. Profit decreased 35.8 percent to $168.7 million.
Sales for the fourth quarter were $762.2 million, a 1.7 percent increase over the same period a year ago. Profit decreased 19.7 percent to $42.3 million.
Mobile industries sales for the full year were $1.6 billion, a 5.1 percent decrease from the previous year. In the fourth quarter, sales were $389.5 million, down 6.8 percent year-over-year. More than half of the decrease in the quarter came from planned program exits in the light vehicle sector that were completed in 2013.
Process industries sales for the full year increased 10.4 percent to $1.3 billion. In the fourth quarter, sales were $372.7 million, up 12.4 percent compared to the same period a year ago.