UPDATE 1-Lincoln Electric Q4 net up 25 pct

* Q4 EPS $0.57 vs $0.46 yr ago

* Rev falls 12 pct

Feb 22 (Reuters) - Welding products maker Lincoln Electric Holdings Inc's (LECO.O) reported a 25 percent rise in quarterly net profit, driven by cost saving initiatives.

For the fourth quarter, net income was $24.3 million, or 57 cents a share, compared with $19.5 million, or 46 cents a share, a year ago.

Excluding special items, the company earned 65 cents a share.

Revenue for the company, which serves the construction, transportation, metal fabrication and power markets, fell 12 percent to $462.4 million.

Analysts on average were expecting earnings of 63 cents a share, on revenue of $454.3 million, according to Thomson Reuters I/B/E/S.

Shares of the Cleveland, Ohio-based company closed at $51.65 Friday on Nasdaq. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Jarshad Kakkrakandy)