GOTHENBURG, Sweden — SKF reported an increase in sales — excluding acquisitions and liquidations — of 7.2 percent for the third quarter of 2005, compared to the same period last year. In the third quarter, profit before taxes increased by 27 percent and the operating margin was 12.1 percent.
Sales for SKF in the third quarter — excluding Ovako Steel — compared to sales in the same quarter last year were higher in Europe, significantly higher in North America and Asia and higher in Latin America. The manufacturing level for the third quarter of 2005 was unchanged compared to the second quarter, but higher than for the third quarter last year.
The company stated that the market demand for its products and services in the fourth quarter, compared to the previous quarter, is expected to remain on a high level in Europe, to be slightly higher in North America, significantly higher in Asia and to remain on a high level in Latin America. This is in addition to normal seasonality. The manufacturing level will be unchanged during the fourth quarter, compared to the third quarter, while higher in absolute terms due to normal seasonality, according to the company.
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