Posts Tagged ‘Timken’

Timken’s results could boost truck driver jobs

Sunday, January 30th, 2011

Timken’s 2010 financial results could be a driving factor in the creation of truck driver jobs.

The Timken Company today reported sales of $4.1 billion for 2010, an increase of 29 percent from the prior year. Light-vehicle demand provided an early boost in sales and remained strong throughout the year. In the second half, accelerated demand in the heavy-truck, off-highway, energy and industrial distribution sectors further increased top-line growth. Surcharges and pricing contributed to the sales increase as well.

In 2010, Timken earned $267.4 million from continuing operations net of non-controlling interest, or $2.73 per diluted share. In the prior year, the company’s continuing operations incurred a loss of $61.4 million net of non-controlling interest, or $0.64 per share.

“We are pleased with our performance in 2010.