Lincoln Electric meets 4Q profit forecasts

CLEVELAND (AP) _ Lincoln Electric Holdings Inc. (LECO) on Tuesday reported fourth-quarter net income of $53.4 million.

On a per-share basis, the Cleveland-based company said it had net income of 81 cents.

The results met Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of 81 cents per share.

The manufacturer of specialized welding products and other equipment posted revenue of $563.8 million in the period, which beat Street forecasts. Nine analysts surveyed by Zacks expected $548 million.

For the year, the company reported profit of $198.4 million, or $2.91 per share. Revenue was reported as $2.27 billion.

Lincoln Electric shares have climbed 9 percent since the beginning of the year. The stock has increased 54 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LECO at https://www.zacks.com/ap/LECO

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Keywords: Lincoln Electric Holdings, Earnings Report