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Posted February 7, 2018

Timken 4Q sales up 18.8 percent

The Timken Company reported fourth-quarter 2017 sales of $778 million, up 18.8 percent from the same period a year ago.


The increase was driven by organic growth across most end-market sectors led by off-highway and industrial distribution, as well as the benefit of acquisitions and currency.

In the fourth quarter, Timken posted net income of $29.2 million, or 37 cents per diluted share, versus a net loss of $6.9 million, or a loss of 9 cents, for the same period a year ago.

Mobile Industries reported sales of $425.8 million, up 24.4 percent compared with the same period a year ago. Acquisitions added revenue of $42.7 million in the quarter, or 12.5 percent.

Process Industries sales of $352.2 million increased 12.7 percent from the same period a year ago, driven primarily by strong demand in the industrial distribution and general industrial sectors, increased military marine revenue and favorable currency.

For 2017, sales were $3 billion, up 12.5 percent compared with 2016. The increase was driven by organic growth across most end-market sectors led by off-highway, industrial distribution and heavy truck, and the benefit of acquisitions and currency, partially offset by lower demand in the rail sector.

Net income was $203.4 million, or $2.58 per diluted share for the year, compared with net income of $140.8 million, or $1.78, a year ago.

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