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BRIEF-Timken reports Q4 earnings per share $0.31
February 9, 2017 / 12:17 PM / 10 months ago

BRIEF-Timken reports Q4 earnings per share $0.31

Feb 9 (Reuters) - Timken Co

* Timken reports fourth-quarter and full-year 2016 results, provides 2017 outlook

* Q4 earnings per share $0.31

* Q4 sales fell 8.3 percent to $655 million

* Sees FY 2017 adjusted earnings per share $2.05 to $2.15 excluding items

* Sees FY 2017 GAAP earnings per share $1.90 to $2.00

* Sees Q4 GAAP earnings per share $0.31

* Timken Co - expects 2017 revenue to be relatively flat compared with 2016.

* Timken Co - company expects 2017 revenue to be relatively flat compared with 2016

* FY2017 earnings per share view $2.04, revenue view $2.67 billion -- Thomson Reuters I/B/E/S

* Timken Co - plans to adopt mark-to-market pension accounting for its defined benefit pension and other postretirement benefit plans in Q1 of 2017

* Timken - Change related to mark-to-market pension accounting to have no effect on employees’ retirement benefits, plan funding requirements, co’s cash flows

* Timken Co - under new accounting method, will immediately recognize actuarial gains, losses in year in which they occur than amortizing them over many yrs

* Timken Co - adjusted earnings for 2016 are expected to be revised upward by approximately $0.15 per diluted share Source text for Eikon: Further company coverage:

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