CLEVELAND (AP) — CLEVELAND (AP) — Lincoln Electric Holdings Inc. (LECO) on Thursday reported fourth-quarter earnings of $156.6 million.

On a per-share basis, the Cleveland-based company said it had net income of $2.70. Earnings, adjusted for non-recurring gains, were $2.45 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.19 per share.

The manufacturer of specialized welding products and other equipment posted revenue of $1.06 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $1.03 billion.

For the year, the company reported profit of $545.2 million, or $9.37 per share. Revenue was reported as $4.19 billion.

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