Lincoln Electric Q4 Profit Down, Yet Adj. EPS Tops Street - Quick Facts

(RTTNews) - Welding products maker Lincoln Electric Holdings Inc. (LECO) posted lower fourth-quarter 2014 net income of $75.2 million, or $0.96 per share, compared with $88.3 million, or $1.07 per share, in the comparable 2013 period.

Adjusted net income for the fourth quarter 2014 was $75.4 million, or $0.96 per share. On average, 10 analysts polled by Thomson Reuters expected earnings of $0.91 per share for the quarter. Analysts' estimates typically exclude one-time items. The 2013 period includes a benefit of $0.22 per share from the firm's Venezuelan operations, which operates in a hyper-inflationary environment. This compares with no contribution to adjusted net income from its Venezuelan operations in the fourth quarter 2014.

Cleveland, Ohio-based company's quarterly sales decreased 4.3% to $684.0 million from $714.8 million last year, chiefly due to unfavorable foreign currency translation and volume weakness in our South America Welding unit. Eight analysts estimated sales of $718.39 million for the period.

Further, the board increased the quarterly cash dividend 26%, from $0.23 per share to $0.29, which was paid on January 15, 2015 to shareholders of record as of December 31, 2014.