CLEVELAND, Dec. 17 /PRNewswire-FirstCall/ -- As previously announced, Lincoln Electric Holdings, Inc.'s (Nasdaq: LECO) management structure was realigned to more efficiently direct its resources and bolster its global market leadership position. As a result of these management organizational changes, effective the fourth quarter of 2009, the Company will report five operating segments as follows: North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.

The North America Welding segment comprises operations in the United States, Canada and Mexico. The other three welding segments contain welding operations in Europe, Asia Pacific and South America, respectively. The fifth segment, The Harris Products Group, includes the Company's global cutting, soldering and brazing businesses as well as the retail business in the United States.

The reclassification of historical results into the five new business segments for previously reported periods for 2007, 2008 and the 2009 first, second and third quarters are attached and can also be obtained by clicking on the following link: http://www.lincolnelectric.com/InvestorNews. The Company did not operate under the realigned segment structure for any of these prior periods and will begin to report comparative results under the new structure effective with the filing of its Annual Report on Form 10-K for the year ending December 31, 2009.

Lincoln Electric is the world leader in the design, development and manufacture of arc welding products, robotic arc-welding systems, plasma and oxyfuel cutting equipment and has a leading global position in the brazing and soldering alloys market. Headquartered in Cleveland, Ohio, Lincoln has 38 manufacturing locations, including operations and joint ventures in 18 countries and a worldwide network of distributors and sales offices covering more than 160 countries. For more information about Lincoln Electric, its products and services, visit the Company's website at http://www.lincolnelectric.com.

The Company's expectations and beliefs concerning the future contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management's current expectations and involve a number of risks and uncertainties. Actual results may differ materially from such statements due to a variety of factors that could adversely affect the Company's operating results. The factors include, but are not limited to: general economic and market conditions; the effectiveness of operating initiatives; currency exchange and interest rates; adverse outcome of pending or potential litigation; possible acquisitions; market risks and price fluctuations related to the purchase of commodities and energy; global regulatory complexity; and the possible effects of international terrorism and hostilities on the Company or its customers, suppliers and the economy in general. For additional discussion, see "Item 1A. Risk Factors" in the Company's Annual Report on Form 10-K.

                                 Lincoln Electric Holdings, Inc.
                                     Segment Highlights
                                       (In thousands)
                                         (Unaudited)

                                                     The
                  North            Asia    South   Harris  Corporate /
                 America Europe  Pacific  America Products  Elimin-   Consoli-
                 Welding Welding Welding  Welding  Group    ations     dated
                 ------- ------- -------  -------  -----   ---------- --------
    Three months
     ended
     September 30,
     2009
    Net sales to
     unaffil-
     iated
     cust-
     omers $213,132  $84,365   $62,204 $26,430  $55,671        $-   $441,802
    Inter-
     segment
     sales   21,393    2,668     1,171       -    1,416  (26,648)          -
             ------    -----     -----     ---    -----   -------        ---
    Total  $234,525  $87,033   $63,375 $26,430  $57,087 $(26,648)   $441,802
           ========  =======   ======= =======  =======  ========   ========
    Income
     (loss)
     before
     interest
     and
     income
     taxes   $34,497 $(3,834) $(11,595)  $4,354   $1,701      $424    $25,547
    As a
     percent
     of total
     sales     14.7%   (4.4%)   (18.3%)   16.5%     3.0%                 5.8%
    Special
     items (1)    $-   $6,338    $8,606    $164    $(21)        $-    $15,087
    Adjusted
     income
     (loss)
     before
     interest
     and income
     taxes
     excluding
     special
     items
     (5)     $34,497   $2,504  $(2,989)  $4,518   $1,680      $424    $40,634
    As a
     percent
     of total
     sales     14.7%     2.9%    (4.7%)   17.1%     2.9%                 9.2%


    Three months
     ended
     June 30, 2009
    Net sales to
     unaffil-
     iated
     cust-
     omers  $208,014  $88,711   $38,249 $22,108  $56,201        $-   $413,283
    Inter-
     segment
     sales    20,079    2,311       292       -    2,913  (25,595)          -
              ------    -----       ---     ---    -----  -------         ---
    Total   $228,093  $91,022   $38,541 $22,108  $59,114 $(25,595)   $413,283
            ========  =======   ======= =======  ======= ========    ========
    Income
     (loss)
     before
     interest
     and
     income
     taxes   $30,620   $1,140  $(4,617)  $2,105 $(3,273)  $(1,109)    $24,866
    As a
     percent
     of total
     sales     13.4%     1.3%   (12.0%)    9.5%   (5.5%)                 6.0%
    Special
     items
     (2)         $17 $(3,481)  $(1,272)    $307   $4,096       $-      $(333)
    Adjusted
     income
     (loss)
     before
     interest
     and income
     taxes
     excluding
     special
     items
     (5)     $30,637 $(2,341)  $(5,889)  $2,412     $823  $(1,109)    $24,533
    As a
     percent
     of total
     sales     13.4%   (2.6%)   (15.3%)   10.9%     1.4%                 5.9%


    Three months
     ended
     March 31, 2009
    Net sales to
     unaffil-
     iated
     cust-
     omers  $218,827  $87,499   $32,691 $20,659  $52,075       $-    $411,751
    Inter-
     segment
     sales    22,264    2,022       537       -    1,864  (26,687)          -
              ------    -----       ---     ---    -----  -------         ---
    Total   $241,091  $89,521   $33,228 $20,659  $53,939 $(26,687)   $411,751
            ========  =======   ======= =======  ======= ========    ========
    Income
     (loss)
     before
     interest
     and
     income
     taxes   $17,373 $(5,478)  $(7,558)    $107 $(3,206)  $(1,798)     $(560)
    As a
     percent
     of total
     sales      7.2%   (6.1%)   (22.7%)    0.5%   (5.9%)               (0.1%)
    Special
     items
     (3)     $10,174     $468      $397     $57     $603       $-     $11,699
    Adjusted
     income
     (loss)
     before
     interest
     and income
     taxes
     excluding
     special
     items
     (5)     $27,547 $(5,010)  $(7,161)    $164 $(2,603)  $(1,798)    $11,139
    As a
     percent
     of total
     sales     11.4%   (5.6%)   (21.6%)    0.8%   (4.8%)                 2.7%


    Nine months
     ended
     September 30,
     2009
    Net sales to
     unaffil-
     iated
     cust
     -omers $639,973 $260,575  $133,144 $69,197 $163,947        $- $1,266,836
    Inter-
     segment
     sales    63,736    7,001     2,000       -    6,193  (78,930)          -
              ------    -----     -----     ---    -----   -------        ---
    Total   $703,709 $267,576  $135,144 $69,197 $170,140 $(78,930) $1,266,836
            ======== ========  ======== ======= ========  ======== ==========
    Income
     (loss)
     before
     interest
     and
     income
     taxes   $82,490 $(8,172) $(23,770)  $6,566 $(4,778)  $(2,483)    $49,853
    As a
     percent
     of total
     sales     11.7%   (3.1%)   (17.6%)    9.5%   (2.8%)                 3.9%
    Special
     items
     (4)     $10,191   $3,325    $7,731    $528   $4,678        $-    $26,453
    Adjusted
     income
     (loss)
     before
     interest
     and income
     taxes
     excluding
     special
     items
     (5)     $92,681 $(4,847) $(16,039)  $7,094   $(100)  $(2,483)    $76,306
    As a
     percent
     of total
     sales     13.2%   (1.8%)   (11.9%)   10.3%   (0.1%)                 6.0%


      (1)  Special items include the impacts of rationalization activities
           and a loss on the acquisition of a business.
      (2)  Special items include the impacts of rationalization activities, a
           gain on the sale of a property and a pension settlement gain.
      (3)  Special items include the impact of rationalization activities.
      (4)  Special items include the impacts of rationalization activities, a
           gain on the sale of a property, a pension settlement gain and a
           loss on the acquisition of a business.
      (5)  Adjusted income (loss) before interest and income taxes excluding
           special items is a non-GAAP financial measure that management
           believes is important to investors to evaluate and compare the
           Company's financial performance from period to period.  Management
           uses this information in assessing and evaluating the Company's
           underlying operating performance.

                                 Lincoln Electric Holdings, Inc.
                                      Segment Highlights
                                        (In thousands)
                                         (Unaudited)

                                                The
              North           Asia    South    Harris   Corporate /
             America Europe  Pacific America  Products    Elimin-     Consoli-
             Welding Welding Welding Welding   Group      ations       dated
             ------- ------- ------- -------   -----    -----------   --------
    Three months
     ended
     December 31,
     2008
    Net sales to
     unaffil-
     iated
     cust-
     omers  $286,287 $108,801  $48,064  $26,593  $56,441         $-   $526,186
    Inter-
     segment
     sales    30,910    1,905    1,170        8    1,677   (35,670)          -
              ------    -----    -----      ---    -----    -------        ---
    Total   $317,197 $110,706  $49,234  $26,601  $58,118  $(35,670)   $526,186
            ======== ========  =======  =======  =======   ========   ========
    Income
     (loss)
     before
     interest
     and
     income
     taxes   $54,588   $(851) $(16,304)  $2,554 $(5,087)   $(1,077)    $33,823
    As a
     percent
     of total
     sales     17.2%   (0.8%)  (33.1%)     9.6%   (8.8%)                  6.4%
    Special
     items (1)  $818   $2,052  $15,582       $-     $919         $-    $19,371
    Adjusted
     income
     (loss)
     before
     interest
     and income
     taxes
     excluding
     special
     items
     (2)     $55,406   $1,201   $(722)   $2,554 $(4,168)   $(1,077)    $53,194
    As a
     percent
     of total
     sales     17.5%     1.1%   (1.5%)     9.6%   (7.2%)                 10.1%


    Three months
     ended
     September 30,
     2008
    Net sales to
     unaffil-
     iated
     cust-
     omers  $333,934 $132,636  $62,771  $32,662  $70,889         $-   $632,892
    Inter-
     segment
     sales    32,576    4,911      754        2    2,102   (40,345)          -
              ------    -----      ---      ---    -----    -------        ---
    Total   $366,510 $137,547  $63,525  $32,664  $72,991  $(40,345)   $632,892
            ======== ========  =======  =======  =======   ========   ========
    Income
     before
     interest
     and
     income
     taxes   $65,865  $19,036   $2,974   $4,283   $2,752   $(1,189)    $93,721
    As a
     percent
     of total
     sales     18.0%    13.8%     4.7%    13.1%     3.8%                 14.8%


    Three months
     ended
     June 30,
     2008
    Net sales to
     unaffil-
     iated
     cust-
     omers  $357,299 $160,115  $68,215  $31,674  $82,523         $-   $699,826
    Inter-
     segment
     sales    35,717    4,836      936       27    2,540   (44,056)          -
              ------    -----      ---      ---    -----    -------        ---
    Total   $393,016 $164,951  $69,151  $31,701  $85,063  $(44,056)   $699,826
            ======== ========  =======  =======  =======   ========   ========
    Income
     before
     interest
     and
     income
     taxes   $65,397  $20,385   $5,923   $1,610   $5,716   $(2,994)    $96,037
    As a
     percent
     of total
     sales     16.6%    12.4%     8.6%     5.1%     6.7%                 13.7%


    Three months
     ended
     March 31,
     2008
    Net sales to
     unaffil-
     iated
     cust-
     omers  $336,361 $137,018  $51,611  $25,132  $70,105         $-   $620,227
    Inter-
     segment
     sales    27,884    3,997      662        -    2,249   (34,792)          -
              ------    -----      ---      ---    -----    -------        ---
    Total   $364,245 $141,015  $52,273  $25,132  $72,354  $(34,792)   $620,227
            ======== ========  =======  =======  =======   ========   ========
    Income
     before
     interest
     and
     income
     taxes   $56,980  $15,376      $85   $1,537   $5,918     $(358)    $79,538
    As a
     percent
     of total
     sales     15.6%    10.9%     0.2%     6.1%     8.2%                 12.8%


    Twelve
     months
     ended
     December
     31, 2008
    Net sales to
     unaffil-
     iated
     cust-
    omers $1,313,881 $538,570 $230,661 $116,061 $279,958         $- $2,479,131
    Inter-
     segment
     sales   127,087   15,649    3,522       37    8,568  (154,863)          -
             -------   ------    -----      ---    -----   --------        ---
    Total $1,440,968 $554,219 $234,183 $116,098 $288,526 $(154,863) $2,479,131
          ========== ======== ======== ======== ========  ========= ==========
    Income
     (loss)
     before
     interest
     and
     income
     taxes  $242,830  $53,946 $(7,322)   $9,984   $9,299   $(5,618)   $303,119
    As a
     percent
     of total
     sales     16.9%     9.7%   (3.1%)     8.6%     3.2%                 12.2%
    Special
     items (1)  $818   $2,052  $15,582       $-     $919         $-    $19,371
    Adjusted
     income
     before
     interest
     and income
     taxes
     excluding
     special
     items
     (2)    $243,648  $55,998   $8,260   $9,984  $10,218   $(5,618)   $322,490
    As a
     percent
     of total
     sales     16.9%    10.1%     3.5%     8.6%     3.5%                 13.0%


    (1)  Special items include the impacts of rationalization activities and
         asset impairments.
    (2)  Adjusted income (loss) before interest and income taxes excluding
         special items is a non-GAAP financial measure that management
         believes is important to investors to evaluate and compare the
         Company's financial performance from period to period.  Management
         uses this information in assessing and evaluating the Company's
         underlying operating performance.

                                Lincoln Electric Holdings, Inc.
                                     Segment Highlights
                                       (In thousands)
                                        (Unaudited)

                                                 The
              North            Asia    South    Harris   Corporate /
             America Europe   Pacific America  Products   Elimin-     Consoli-
             Welding Welding  Welding Welding   Group     ations       dated
             ------- -------  ------- -------   -----    -----------  --------

    Twelve months
     ended
     December 31,
     2007
    Net sales to
     unaffil-
     iated
     cust-
     omers $1,248,382 $474,388 $178,120 $101,426 $278,468        $- $2,280,784
    Inter-
     segment
     sales   114,930   14,295    2,501    1,793    8,028  (141,547)          -
             -------   ------    -----    -----    -----   --------        ---
    Total $1,363,312 $488,683 $180,621 $103,219 $286,496 $(141,547) $2,280,784
          ========== ======== ======== ======== ========  ========= ==========
    Income
     (loss)
     before
     interest
     and
     income
     taxes  $206,768  $57,495   $(328)   $8,804  $18,800   $(1,246)   $290,293
    As a
     percent
     of total
     sales     15.2%    11.8%   (0.2%)     8.5%     6.6%                 12.7%
    Special
     items (1)    $-       $-       $-       $-   $(188)         $-     $(188)
    Adjusted
     income
     (loss)
     before
     interest
     and income
     taxes
     excluding
     special
     items
     (2)    $206,768  $57,495   $(328)   $8,804  $18,612   $(1,246)   $290,105
    As a
     percent
     of total
     sales     15.2%    11.8%   (0.2%)     8.5%     6.5%                 12.7%



    (1)  Special items include the impact of rationalization activities.
    (2)  Adjusted income (loss) before interest and income taxes excluding
         special items is a non-GAAP financial measure that management
         believes is important to investors to evaluate and compare the
         Company's financial performance from period to period.  Management
         uses this information in assessing and evaluating the Company's
         underlying operating performance.

SOURCE Lincoln Electric Holdings, Inc.

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RELATED LINKS
http://www.lincolnelectric.com