July 27, 2010 / 12:40 PM / 7 years ago

UPDATE 1-Lincoln Electric Q2 beats Wall Street estimates

* Q2 adj EPS $0.77 vs est. $0.68

* Sales $515.6 mln vs est. $494.3 mln

* North America sales up 22 pct

July 27 (Reuters) - Welding products maker Lincoln Electric Holdings Inc (LECO.O) topped analysts’ estimates, helped by strong growth in its North America welding market.

“While demand levels have significantly improved in most markets and geographic regions on a year-over-year basis, volume trends are stabilizing,” Chief Executive John Stropki said in a statement.

For the second quarter, the company reported a net income of $32.5 million, or 76 cents a share, compared with $15.1 million, or 35 cents a share, a year earlier.

Excluding items, the company earned 77 cents a share.

Sales of the company Lincoln, which serves the construction, transportation, metal fabrication and power markets, rose 25 percent to $515.6 million.

Sales in its North America welding market, which contributed to about 51 percent of total sales, rose 22 percent to $253.8 million.

Analysts on average were expecting earnings of 68 cents a share on revenue of $494.3 million, according to Thomson Reuters I/B/E/S.

Shares of the Cleveland, Ohio-based company closed at $55.91 Monday on Nasdaq. (Reporting by Megha Mandavia in Bangalore; Editing by Vyas Mohan)

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