Welding product manufacturer Lincoln Electric Holdings, Inc., Cleveland, OH, reported sales in 2007 increased 15.7% to $2.28 billion. Profit in 2007 was up 15.8% to $202.7 million.
The company's North American operations had sales of $1.4 billion in 2007, an increase of 7.3%. U.S. export sales increased 26.2% to $194.5 million. Lincoln operations outside of North America had sales of $879.4 million, an increase of 32%. In local currencies, sales for the company's international operations increased 18.8%.
In the fourth quarter, sales were up 14.7% to $580.3 million. Profit was down 4.4% to $49.5 million. Sales for the company's North American operations were $345.1 million in the quarter, an increase of 8.1%. U.S. export sales in the quarter increased 11.2% to $46.3 million from $41.6 million in 2006.
Sales at Lincoln subsidiaries outside North America increased to $235.2 million in the fourth quarter. In local currencies, international subsidiaries' sales increased 14%.
Lincoln has 38 manufacturing locations, including operations, manufacturing alliances and joint ventures in 19 countries and a worldwide network of distributors and sales offices covering more than 160 countries.