Lincoln Electric sales up 3.5 percent
Lincoln Electric Holdings reported third quarter 2014 sales increased 3.5% to $715.8 million versus $691.9 million in the comparable 2013 period.
Net income of $45.7 million, or 57 cents per diluted share, compares with net income of $66.0 million, or 80 per diluted share, in the comparable 2013 period.
During the quarter, the company recorded impairment charges of $32.4 million primarily related to a planned divestiture of manufacturing capacity in the Asia Pacific Welding segment.
Christopher L. Mapes, chairman, president and chief executive officer stated, "We are pleased with the underlying quality of our earnings this quarter, which were driven by strong top-line growth and margin contributions from our North America Welding and Europe Welding segments. This performance more than offset a challenging year-over-year comparison from our Venezuela business."
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
