Timken releases quarterly earnings
The Timken Company on Thursday reported sales of $789 million for the second quarter of 2014, comparable to 2013 second quarter sales.
The sales exclude revenue attributable to the steel business, which was spun off as TimkenSteel Corporation at the end of June.
Timken generated consolidated net income of $62.7 million. Net income from continuing operations totaled $56.5 million, compared with net income from continuing operations of $55.3 million, during the same period a year ago.
Richard G. Kyle, Timken president and CEO, described the second quarter as falling in line with the company’s expectations.
Timken Company operates a plant in Niles, employing about 40 workers.