CLEVELAND (AP) _ Lincoln Electric Holdings Inc. (LECO) on Tuesday reported third-quarter net income of $58.5 million.

The Cleveland-based company said it had profit of 97 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.10 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.

The manufacturer of specialized welding products and other equipment posted revenue of $668.9 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $610.8 million.

Lincoln Electric shares have increased 6% since the beginning of the year. The stock has increased 15% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LECO at https://www.zacks.com/ap/LECO

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News