The Timken Company, Canton, OH, reported sales of $1.54 billion in the second quarter of 2008, an increase of 14% over the same period a year ago. Profit improved 60% to $88.9 million from second quarter 2007.
 
Strong sales in global industrial markets offset the impact of weaker North American automotive demand. During the quarter, the company benefited from its capacity-expansion initiatives, as well as the favorable impact of pricing, surcharges and currency.
 
For the first half of 2008, sales were $2.97 billion, an increase of 13% from the same period in 2007. Profit for the first six months of 2008 was $173 million, up 33.5% over the same period a year ago.
 
Segment Results
The Bearings and Power Transmission Group had second-quarter sales of $1.06 billion, up 9% from the same period last year, resulting primarily from organic growth in the Process Industries and Aerospace and Defense segments. For the first half of 2008, Bearings and Power
 
Transmission Group sales were $2.11 billion, up 11% over the first half of 2007.
 
In the second quarter, Mobile Industries sales were $628.2 million, a decrease of 1% from the same period a year ago. Sales declined as a result of lower demand from the North American light-vehicle market sector, which included the effects of a strike in the automotive industry.  For the first half of 2008, Mobile Industries sales of $1.26 billion were up 2% percent from the same period a year ago.
 
Process Industries had second-quarter sales of $328.4 million, up 23% from the same period a year ago. The increase was driven by strong demand across broad industrial market sectors, new capacity coming online, pricing and currency. For the first half of 2008, sales were $641.0 million, up 24%.
 
Aerospace and Defense, which serves the defense, civil helicopter aviation and commercial original equipment and aftermarket sectors, had second-quarter sales of $105.7 million, up 42% from the same period last year. The increase was driven primarily by the Purdy acquisition, completed in the fourth quarter of last year, as well as strong demand and favorable pricing. For the first half of 2008, sales were $207.8 million, up 40% from the same period a year ago.
 
Sales for the Steel Group, including inter-group sales, were $518.9 million, an increase of 26% from the same period last year. The increase was driven by raw-material surcharges and higher demand across all market sectors, except for automotive. For the first six months of 2008, sales were $943.9 million, up 18% over the first half of last year.