Date: 2013-08-01

The Timken Company Announces Sharp Increase in Earnings on Record Sales and Increases Quarterly Dividend to 15 Cents Per Share

1.Sharp Increase in Earnings on Record Sales

CANTON, Ohio, Feb 01, 2005 /PRNewswire-FirstCall via COMTEX/ -- The Timken Company (NYSE: TKR) today reported record 2004 sales of $4.5 billion, a 19 percent increase from the prior year. Timken achieved 2004 net income of $135.7 million or $1.49 per diluted share, up from $36.5 million or $0.44 per diluted share in 2003. Adjusted net income, which excludes the impact of special items, was $122.3 million or $1.35 per diluted share in 2004, compared to $56.0 million or $0.67 per diluted share in 2003.

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Commenting on 2004 results, James W. Griffith, president and CEO, said: "The strategic actions we have taken to improve our competitiveness enabled us to capitalize on the global industrial recovery and deliver improved performance. We achieved record sales and strong earnings growth over last year despite unprecedented high raw material costs. The rapid improvement in industrial market demand for our products that buoyed our performance in 2004 is continuing. Our momentum remains strong as we enter 2005, and we will be taking steps to further improve margins, customer service and productivity in the face of these strong markets."

In 2004, the company:

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