Posted April 27, 2010
Lincoln Electric's sales up 14.4 percent
Lincoln Electric Holdings Inc. reported 2010 first quarter net income of $23.7 million, or 55 cents per diluted share, on sales of $471.0 million.
Operating income for the first quarter increased to $34.7 million, or 7.4% of sales, from $1.0 million, or 0.3% of sales, in the first quarter of 2009.
Sales were $471.0 million in the first quarter versus $411.8 million in the comparable 2009 period, an increase of 14.4%.
"We are pleased that we have started the year off with much stronger operating income compared with the first quarter of 2009," said John M. Stropki, chairman and CEO. "The actions we took throughout 2009 to rationalize our operations and reduce our overall cost structure coupled with an improving economic environment drove significantly better results in the first quarter of 2010 compared with the prior year period."
