NORTH CANTON: Timken Co. on Thursday reported fourth-quarter net income of $60 million.
On a per-share basis, the North Canton, Ohio-based company said it had net income of 77 cents. Earnings, adjusted for one-time gains and costs, were $1 per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.
The maker of bearings and power transmissions posted revenue of $910.1 million in the period.
For the year, the company reported profit of $302.8 million, or $3.86 per share. Revenue was reported as $3.58 billion.
Timken expects full-year earnings in the range of $4.70 to $4.90 per share.
Timken shares have increased 17 percent since the beginning of the year. The stock has decreased 11 percent in the last 12 months.