(RTTNews) - Lincoln Electric Holdings, Inc. (LECO) reported Tuesday that net income for the second quarter soared to $96.11 million or $1.60 per share from $27.0 million or $0.45 per share in the prior-year quarter.
Excluding items, adjusted net income for the quarter was $100.60 million or $1.67 per share, compared to $47.99 million or $0.80 per share in the year-ago quarter.
On average, ten analysts polled by Thomson Reuters expected the company to report earnings of $1.44 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter increased 39.9 percent to $826.45 million from $590.73 million in the same quarter last year. Organic sales grew 36.0 percent. Analysts expected revenues of $787.54 million.
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