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Timken Co Lowers FY 2013 Revenue Guidance; Comments On FY 2014 Guidance

Thursday, 24 Oct 2013 07:30am EDT 

Timken Co announced that for fiscal 2013, it expects sales to be approximately 13% lower year over year. The Company also announced that excluding one time implementation costs for the separation, the Company expects sales and earnings in fiscal 2014 to improve as a result of cost reductions and the Company's strategic initiatives as well as a gradual economic recovery. The Company reported revenue of $4.987 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4.491 billion for fiscal 2013. revenue of $4.842 billion and EPS of $4.48 for fiscal 2014. 

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