Timken Co. Reports 5% Increase in 2Q Sales
The Timken Company, Canton, OH, reported sales of $1.39 billion in the second quarter, up 5% from the same period a year ago. Second quarter net income increased 11% to $74.7 million up from $67.3 million in the second quarter a year ago.
"This quarter's results reflect good progress towards fundamentally improving financial performance," said James W. Griffith, president and CEO. "Strong industrial markets and record Steel Group results contributed to our record second quarter."
For the first half of 2006, sales were $2.7 billion, an increase of 4% from the same period in the prior year, driven by strong industrial markets.
Industrial Group Results
The Industrial Group had second quarter sales of $529.1 million, up 6% from $498.2 million for ...