timken Q4-2008-EarningRelease

Timken reported record annual sales and earnings for 2008 despite a challenging fourth quarter. Sales increased 8% to $5.7 billion for the year due to strong demand globally. However, earnings per share fell in the fourth quarter to a loss of $0.38 due to lower demand, higher material costs, and a LIFO expense. For 2009, Timken expects earnings per share between $1.30 to $1.60 due to anticipated weakness in most end markets.