Timken Co. (TKR) said its fourth-quarter net loss attributable to the company narrowed to $20.19 million or $0.21 per share from $36.15 million or $0.37 per share a year ago.
Excluding special items, fourth-quarter 2009 adjusted income attributable to the company stood at $38.90 million or $0.40 per share versus $6.33 million or $0.07 per share in the previous year. On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.07 for the quarter. Analysts' estimate typically excludes one-time items.
For the quarter ended Dec. 31, 2009, net sales were $774.61 million, a decline of 29% from $1.10 billion in the same period a year ago. Four analysts estimated revenues of $727.38 million for the quarter.
The company anticipates 2010 earnings, excluding special items, to range from $0.85 to $1.15 per share for the year. Eight analysts expect 2010 earnings per share of $1.04.
Timken anticipates an increase in sales of about 5% - 10% over 2009, driven primarily by stronger shipments in the Steel Group, as customers rebuild inventory levels.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.