Date: 2013-08-20

TIMKEN INCREASES ITS OUTLOOK FOR QUARTER AND YEAR

The Timken Company, a maker of bearings and alloy steels, raised its earnings forecast yesterday on strong industrial demand, price increases and strong sales at its steel group. The company raised its outlook for first-quarter earnings, excluding special items, to 57 cents to 62 cents a share and for full-year earnings to $2.05 to $2.20 a share. It previously estimated first-quarter earnings at 38 cents to 43 cents a share and full-year earnings at $1.70 to $1.85 a share. Stock in the company, which is based in Canton, Ohio, rose $3.34, or 14 percent, to $27.34 a share.

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