CLEVELAND (AP) — CLEVELAND (AP) — Lincoln Electric Holdings Inc. (LECO) on Tuesday reported fourth-quarter net income of $109.1 million.
On a per-share basis, the Cleveland-based company said it had profit of $1.87. Earnings, adjusted for one-time gains and costs, were $1.94 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.90 per share.
The manufacturer of specialized welding products and other equipment posted revenue of $930.9 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $927.3 million.
For the year, the company reported profit of $472.2 million, or $8.04 per share. Revenue was reported as $3.76 billion.
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