Lincoln Electric Q1 Profit Declines 22%

(RTTNews) - Lincoln Electric (LECO) released earnings for first quarter that fell from last year.

The company said its bottom line dropped to $53.64 million, or $0.76 per share. This was lower than $68.35 million, or $0.89 per share, in last year's first quarter.

Analysts had expected the company to earn $0.68 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 16.3% to $550.72 million. This was down from $657.90 million last year.

Lincoln Electric earnings at a glance:

-Earnings (Q1): $53.64 Mln. vs. $68.35 Mln. last year. -Earnings Decline (Y-o-Y): -21.5% -EPS (Q1): $0.76 vs. $0.89 last year. -EPS Decline (Y-o-Y): -14.6% -Analysts Estimate: $0.68 -Revenue (Q1): $550.72 Mln vs. $657.90 Mln last year. -Revenue Change (Y-o-Y): -16.3%