ADVFN - Advanced Financial Network.
HOME» NYSE » T » TKR Stock Price » TKR Stock News

Timken Share News

 Timken Co. (the) Stock Price
TKR Stock Price
 Timken Co. (the) Stock Chart
TKR Stock Chart
 Timken Co. (the) Stock News
TKR Stock News
 Timken Co. (the) Company Information
TKR Company Information
 Timken Co. (the) Stock Trades
TKR Stock Trades

Timken 4Q Loss Narrows Amid Cost Cuts, Higher Prices

DOW JONES NEWSWIRES Timken Co.'s (TKR) fourth-quarter loss narrowed as the company benefited from better pricing, cost cutting and lower material expenses. The maker of bearings and specialty steel products also projected 2010 earnings of 85 cents to $1.15 a share and sees sales rising 5% to 10%, driven by stronger steel shipments as customers are expected to rebuild inventory levels. Analysts surveyed by Thomson Reuters expected earnings of $1.07 per share on sales of $3.37 billion, or up 9%. Timken has been cutting costs amid an industrywide slump in steel demand among its key buyers, including the automotive, construction and industrial-equipment sectors. Late last year, the company completed the sale of its needle roller bearings business to Japan's JTEKT Corp. (6473.TO), receiving $330 million from the transaction. On Tuesday, Timken reported a loss of $20.2 million, or 21 cents a share, compared with a year-earlier loss of $36.2 million, or 37 cents a share. Excluding write-downs in the latest quarter and other impacts, earnings surged to 40 cents from 7 cents. Revenue tumbled 29% to $774.6 million. Wall Street expected earnings of 8 cents on revenue of $727 million. Gross margin grew to 22.4% from 16.2%. Sales in the bearings and transmission group, its largest business, were down 18% although profit jumped 50%. Sales also fell in all of its other units. Shares closed Monday at $24.10 and were inactive in premarket trading. -By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

Stock News for Timken (TKR)
DateTimeHeadline
09/11/201418:40:05Skills Gap Bumps Up Against Vocational Taboo
11/15/201309:10:30Caxton Associates LP 3Q 13F: Largest Eliminations
11/15/201309:10:28Caxton Associates LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201309:10:27Caxton Associates LP 3Q 13F: Holdings As Of Sep 30
11/15/201309:01:33HBK Investments LP 3Q 13F: Holdings As Of Sep 30
11/15/201309:01:33HBK Investments LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201308:39:34Kingdon Capital Management 3Q 13F: Largest Purchases
11/15/201308:39:34Kingdon Capital Management 3Q 13F: Holdings As Of -2-
11/15/201308:39:33Kingdon Capital Management 3Q 13F: Holdings As Of Sep 30
11/15/201307:11:08AQR Capital Management 3Q 13F: Holdings As Of Sep 30
11/15/201307:11:08AQR Capital Management 3Q 13F: Holdings As Of Sep -2-
11/15/201307:07:21Two Sigma Investments 3Q 13F: Holdings As Of Sep -2-
11/15/201307:07:21Two Sigma Investments 3Q 13F: Holdings As Of Sep 30
11/15/201306:57:24Millennium Management 3Q 13F: Holdings As Of Sep -2-
11/15/201306:57:23Millennium Management 3Q 13F: Holdings As Of Sep 30
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Largest Purchases -2-
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Holdings As Of Sep 30
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Holdings As Of Sep -2-
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Largest Purchases
11/14/201307:21:26GAMCO Asset Management Inc. 3Q 13F: Largest -2-

Timken and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad