Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Lincoln Electric 3Q Net Fell; CEO to Retire in 2005
Oct 20, 2003
 Printable format
 Email this Article
 Search

Lincoln Electric Holdings Inc.'s reported its third-quarter net income fell 23 percent and that its chairman and chief executive plans to retire in May 2005.

In a press release, Lincoln Electric said it earned U.S. $14.1 million for the quarter, or $0.34 a share, down from $18.3 million, or $0.43 a share, a year ago.

Sales for the period rose 3.8 percent to $256.9 million from $247.5 million a year ago, surpassing Wall Street's forecast of $252.1 million.

The maker of arc welding products posted higher costs of goods sold and selling, general, and administrative expenses in the latest period.

Lincoln Electric said its CEO, Mr. Massaro, who has been chief executive and president of the company since 1996 and was named chairman in 1997, will retire in 2005. He joined the company in 1993 as director of international operations, based in London.

The company's board has asked a representative "cross-section" of its members to evaluate qualified chief executive candidates. The committee will be headed by Harold L. Adams, former chairman and chief executive of RTKL Associates Inc. Other directors serving on the committee are Kathryn Jo Lincoln, Henry L. Meyer III, Ranko Cucuz, and Hellene S. Runtagh.

The company said one candidate it is considering is chief operating officer John Stropki.

Back to Daily News

 

Daily News

...........................................................

Aug 29, 2014: Adaptive Frequency Drive Increases Trane Chiller Efficiency

Aug 29, 2014: Vitamix President Receives Entrepreneur of the Year Award

Aug 28, 2014: LG Heat Pump Clothes Dryer Earns Emerging Technology Award

Aug 28, 2014: Early Snowthrower Demand Boosts Toro Sales

Aug 27, 2014: Sustainability Standard Launched for Household Portable and Floor Care Appliances

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows