<PAGE> 1.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10Q
[X]Quarterly Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 for the quarterly period
ended June 30, 1995.
Commission File No. 1-1169
THE TIMKEN COMPANY
Exact name of registrant as specified in its charter
Ohio 34-0577130
State or other jurisdiction of I.R.S. Employer
incorporation or organization Identification No.
1835 Dueber Avenue, S.W., Canton, Ohio 44706-2798
Address of principal executive offices Zip Code
(216) 438-3000
Registrant's telephone number, including area code
Not Applicable
Former name, former address and former fiscal year if changed
since last report.
Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months,
and (2) has been subject to such filing requirements for the past
90 days.
YES X NO
___ ___
Common shares outstanding at June 30, 1995, 31,202,512.
<PAGE> 16.
<TABLE>
STOCK OPTION CALCULATION - EARNINGS PER SHARE
Exhibit 11 - COMPUTATION OF PER SHARE EARNINGS
(Thousands of dollars, except per share data)
<CAPTION>
Six Months Ended June 30 Three Months Ended June 30
1995 1994 1995 1994
PRIMARY ---------------------------- ----------------------------
<S> <C> <C> <C> <C>
Average shares outstanding 31,117,222 30,890,262 31,155,318 30,922,092
Net effect of stock
options - based on the
treasury stock method using
average market price (1) (1) (1) (1)
---------------------------- ----------------------------
31,117,222 30,890,262 31,155,318 30,922,092
Net income (loss) $65,519 $28,380 $31,243 $20,634
Per-share amount $2.11 $0.92 $1.00 $0.67
===== ===== ===== =====
FULLY DILUTED
Average shares outstanding 31,117,222 30,890,262 31,155,318 30,922,092
Net effect of dilutive stock
options - based on the
treasury stock method using
the average quarterly market
price, if higher than exercise
price 287,893 129,307 441,574 107,740
---------------------------- ----------------------------
31,405,115 31,019,569 31,596,892 31,029,832
Net income (loss) $65,519 $28,380 $31,243 $20,634
Per-share amount $2.09 $0.91 $0.99 $0.66
===== ===== ===== =====
(1) Incremental number of shares excluded from calculation since they
do not have a dilutive effect.
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
company's consolidated Balance Sheet and Profit & Loss financial statements
and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<CASH> 6,566
<SECURITIES> 0
<RECEIVABLES> 326,419
<ALLOWANCES> 6,886
<INVENTORY> 357,235
<CURRENT-ASSETS> 730,511
<PP&E> 2,294,088
<DEPRECIATION> 1,259,899
<TOTAL-ASSETS> 1,948,947
<CURRENT-LIABILITIES> 507,531
<BONDS> 150,797
<COMMON> 312,381
0
0
<OTHER-SE> 477,406
<TOTAL-LIABILITY-AND-EQUITY> 1,948,947
<SALES> 1,154,696
<TOTAL-REVENUES> 1,154,696
<CGS> 882,728
<TOTAL-COSTS> 882,728
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 10,381
<INCOME-PRETAX> 106,017
<INCOME-TAX> 40,498
<INCOME-CONTINUING> 65,519
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 65,519
<EPS-PRIMARY> 2.11
<EPS-DILUTED> 2.09
</TABLE>
