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* Sales rise as global industrial demand remains strong
* Earnings increase on execution of strategic initiatives, counteracting weaker automotive demand
* Company expects record full-year earnings
The Timken Company (NYSE: TKR) today reported record sales of $1.54 billion in the second quarter of 2008, an increase of 14 percent over the same period a year ago. Strong sales in global industrial markets more than offset the impact of weaker North American automotive demand. During the quarter, the company benefited from its capacity-expansion initiatives, as well as the favorable impact of pricing, surcharges and currency.
Second-quarter income from continuing operations was $88.9 million, or $0.92 per diluted share, compared to $55.6 million, or $0.58 per diluted share, in the second quarter a year ago. Excluding special items, income from continuing operations increased 33 percent to $92.4 million, or $0.96 per diluted share, for the second quarter of 2008, compared to $69.7 million, or $0.73 per diluted share, in the second quarter of 2007. Record second-quarter earnings benefited from favorable pricing, surcharges, volume and currency, which were partially offset by higher material costs and related LIFO charges. Second-quarter special items, net of tax, included manufacturing rationalization, impairment and restructuring charges totaling $3.5 million, compared to $14.1 million of similar charges in the second quarter of 2007.
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| BCE24TN bearing | 3.175 | 6.35 | 6.35 |
| SCE5612 bearing | 88.9 | 101.6 | 19.05 |