Timken Sales in 2012 Down 3.5% - Modern Distribution Management

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Timken Sales in 2012 Down 3.5%

Profit increased 8.6 percent over the prior year.

The Timken Co. (NYSE: TKR), Canton, OH, reported sales for the fourth quarter of $1.1 billion, a 15 percent decrease compared to the same period a year ago. Profit fell 30.4 percent to $75.4 million.

Process Industries' fourth-quarter sales were $338.9 million, up 5 percent from the same period a year ago. Sales in 2012 were $1.3 billion, an increase of 8 percent.

Aerospace and Defense sales for the fourth quarter were $84.4 million, up 6 percent from the same period a year ago. For the full year, sales were $346.9 million, up 7 percent 2011.

For the quarter, Steel segment sales were $316.4 million, down 32 percent from the same period last year. Sales for Steel in 2012 were $1.7 billion, down 12 percent from $2 billion last year.

For the full year, sales for Timken were $4.9 billion, 3.5 percent below the prior year. Profit increased 8.6 percent to $495.9 million.

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