Timken Co. Q1 Profit Decreases, Misses Estimates

(RTTNews) - Timken Co. (TKR) announced a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $78.3 million, or $1.11 per share. This compares with $103.5 million, or $1.46 per share, last year.

Excluding items, Timken Co. reported adjusted earnings of $98.6 million or $1.40 per share for the period.

Analysts on average had expected the company to earn $1.42 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 4.2% to $1.140 billion from $1.190 billion last year.

Timken Co. earnings at a glance (GAAP) :

-Earnings: $78.3 Mln. vs. $103.5 Mln. last year. -EPS: $1.11 vs. $1.46 last year. -Revenue: $1.140 Bln vs. $1.190 Bln last year.

-Guidance: Full year EPS guidance: $5.10 - $5.60