Posted February 22, 2010
Lincoln Electric's Q4 sales fall 12.1%
Lincoln Electric Holdings reported 2009 fourth quarter net income of $24.3 million, or 57 cents per diluted share, on sales of $462.4 million.
Operating income for the fourth quarter increased sequentially to $39.3 million, or 8.5% of sales, from $33.2 million, or 7.5% of sales, in the third quarter of 2009.
Sales were $462.4 million in the fourth quarter versus $526.2 million in the comparable 2008 period, a decrease of 12.1%.
"We are pleased that our fourth quarter results demonstrated another important sequential improvement in profitability," said John M. Stropki, chairman and CEO. "While the 2009 economic crisis created tremendous challenges to the organization, our management and dedicated employees responded exceptionally well. The quick and decisive actions we took throughout 2009 to rationalize our operations, reduce our overall cost structure and introduce new products to the market generated improved results throughout 2009 and will provide solid momentum going into 2010.
Sales for 2009 were $1.7 billion versus $2.5 billion in 2008, a decrease of 30.2%.
