UPDATE 1-Timken profit falls on restructuring costs


(Adds detail, outlook) NEW YORK, April 26 (Reuters) - Timken Co. , a maker of bearings and specialty steel, reported lower quarterly profit on Thursday, citing restructuring costs. Net profit fell 35 percent to $42.6 million, or 45 cents per share, compared with $65.9 million, or 70 cents per share a year earlier. Excluding special items, Timken earned 66 cents per share, the company said. Its industrial and steel groups reported higher sales and profits, while its automotive group had ...

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