Jan 24 Timken Co, which makes industrial
bearings and aircraft parts, reported a 30 percent fall in
quarterly profit, hurt by lower demand and a sluggish global
The company, which also makes steel and power transmission
products, said total sales fell 14 percent to $1.08 billion in
the fourth quarter.
Net income attributable to Timken fell to $75.3 million, or
78 cents per share, from $109.1 million, or $1.11 per share, a
Timken has been under pressure from falling demand,
especially in its auto and energy markets. The company cut
production last year to match the lower demand.
Timken said it expects revenue to fall about 5 percent in