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The eBearing News
October 17, 2000
Timken Posts Mixed Third Quarter
2000 Operating Results
copyright © 2000 eBearing Inc.
The Timken Company (Canton, Ohio) released third quarter 2000 operating results.
Sales for 3Q2000 rose to $632 million from 1999's $601 million, while operating profits
before charges were essentially flat at $12 million. After adjustments for restructuring charges,
net profits fell from $12.5 million in 3Q1999 to $7.6 million for 3Q2000.
Timken cited a number of reasons for the decline in profitability. The weakening Euro both squeezed
profits and increased pricing pressure from European imports to the U.S., compounded by continuing
softness in the U.S. truck and railroad segments.
Specifically in the bearing business, sales dropped from $423.7 million for 3Q1999 to $414.5
million in 3Q2000. Timken reports EBIT declined due to restructuring charges and other
extraordinary expenses to only $7.3 million for 3Q2000, against $24.8 million in 3Q1999.
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- by Bruce A. Carr
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Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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