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Lincoln Electric Holdings Inc. (Nasdaq: LECO), Cleveland, OH, reported full year 2012 sales of $2.9 billion, an increase of 5.9 percent from 2011. Profit increased 18.5 percent to $257.4 million.
Fourth-quarter sales for Lincoln were $684.6 million, a decrease of 1.4 percent compared to the prior-year quarter. Profit increased 7.5 percent to $62.1 million.
"As we head into 2013, we continue to be cautious based on the uncertain global macroeconomic environment. We expect to see slower year-over-year overall growth in at least the first half of 2013," said John M. Stropki, chairman of the board.