The company, a maker of bearings and steel products, reported earnings for the latest third quarter of $7.7 million, or 13 cents a diluted share, in line with the five-analyst
First Call/Thomson Financial
consensus estimate. Timken earned $12.4 million, or 20 cents a share, for the same period a year ago.
The company said third-quarter income, excluding pretax charges of $6 million for restructuring and reorganization, was $12.1 million, or 20 cents a diluted share.
Sales rose to $632.2 million from $601.7 million in the year-ago third quarter.
Timken warned in September that it expected third-quarter earnings would be significantly lower than the latest second quarter and below the year-ago third quarter.