Timken makes $1bn sales in second quarter

Bearings manufacturer Timken has reported sales of $1bn (£0.64bn) in the second quarter of 2010 − an increase of 37 per cent over the same period a year ago.

The company generated earnings from continuing operations of $81.4m, or $0.84 per diluted share, compared with last year’s loss of $39m, or $0.4 per share.

Timken posted $82.2m, or $0.85 per diluted share, in income from continuing operations, compared with a loss of $6.9m, or $0.07 per share, in the same period a year ago.