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Lincoln Electric Holdings Inc. (Nasdaq: LECO), Cleveland, OH, reported second quarter sales of $592.4 million, a year-over-year decrease of 10.9 percent. Profit fell 55.8 percent to $31.3 million.
The sales decrease reflects a 32.6 percent decline from unfavorable foreign exchange translation and lower volumes of 9.7 percent being partially offset by a 28.4 percent benefit from price and a 3 percent increase from acquisitions.
Sales for the first six months decreased 13.6 percent year-over-year to $1.1 billion. Profit decreased 39 percent to $85 million.