Lincoln Electric posted a 21 percent sales gain in the first quarter of 2012 with sales of $727.1 million. Net income was $64.2 million, and operating income was $32.2 million for the quarter.
“Sales levels for the quarter were a record, and overall profitability and operating cash flows improved significantly,” said John M. Stropki, chairman/CEO. “Our strong operating performance in the quarter was the result of improved product mix, better pricing dynamics in all of our business segments, and the positive impact from recent acquisitions. The continued strength in both sales and profitability during the quarter were particularly positive considering the ongoing economic challenges in many of our key markets.
“We are seeing robust year over year sales growth with particular strength in equipment and automation,” he said. “We remain focused on our global growth strategies, which include acquisitions, new product introductions, and increasing our commercial presence worldwide.”
Lincoln Electric 1Q Financials
- Sales: $727.1 million, up 21.4%
- Operating income: $91.7 million, 12.6% of sales
- Net income: $64.2 million, up 36.9%
- Adjusted net income: $64.2 million, up 51.7%
- Net cash provided by operating activities: $79.2 million, up 373%