Lincoln Electric Q3 Earnings Decline 12%

(RTTNews) - Lincoln Electric (LECO) released a profit for third quarter that fell from last year.

The company said its profit declined to $66.21 million, or $0.89 per share. This was lower than $74.94 million, or $0.94 per share, in last year's third quarter.

Analysts had expected the company to earn $0.88 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 9.9% to $645.17 million. This was down from $715.78 million last year.

Lincoln Electric earnings at a glance:

-Earnings (Q3): $66.21 Mln. vs. $74.94 Mln. last year. -Earnings Decline (Y-o-Y): -11.6% -EPS (Q3): $0.89 vs. $0.94 last year. -EPS Decline (Y-o-Y): -5.3% -Analysts Estimate: $0.88 -Revenue (Q3): $645.17 Mln vs. $715.78 Mln last year. -Revenue Change (Y-o-Y): -9.9%