This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Blount Announces Third Quarter 2013 Results

  • Third quarter 2013 sales declined one percent from third quarter 2012
  • FRAG segment sales up seven percent year-over-year for the third quarter of 2013
  • Net debt reduced $55.7 million in the third quarter on strong free cash flow
  • Company has filed its June 30, 2013 Form 10-Q

PORTLAND, Ore., Nov. 1, 2013 (GLOBE NEWSWIRE) -- Blount International, Inc. (NYSE:BLT) ("Blount" or "Company") today announced results for the third quarter ended September 30, 2013.

Results for the Quarter Ended September 30, 2013

Sales in the third quarter were $230.6 million, a one percent decrease versus the third quarter of 2012. Operating income for the third quarter of 2013 was $15.6 million compared to $22.5 million in the prior year. Restructuring charges of $5.1 million were incurred in the third quarter related mostly to consolidating the Company's two forestry-related, Portland, Oregon manufacturing facilities. Third quarter net income was $7.7 million, or $0.15 per diluted share, compared to $11.6 million, or $0.23 per diluted share, in the third quarter of 2012.

"In the third quarter, our business results were mixed. Our FLAG business improved in North America but continued to be challenged by difficult economic conditions in other regions, particularly Europe and Asia," stated Josh Collins, Blount's Chairman and CEO. "Our FRAG and CCF businesses performed well in the quarter, and both had increased sales compared to last year."

"As we navigate through the soft FLAG demand, we remain committed to managing our balance sheet and cost structure. We generated significant cash flow and reduced net debt and working capital in the third quarter," Mr. Collins continued. "Also, the closure of our Milwaukie, Oregon operation and consolidation of production into our other facilities remains on schedule and is expected to be completed in the fourth quarter."

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.25 -0.98%
FB $118.19 0.65%
GOOG $699.19 0.99%
TSLA $228.41 -1.70%
YHOO $35.97 -0.11%


Chart of I:DJI
DOW 17,667.90 -83.01 -0.47%
S&P 500 2,051.99 -11.38 -0.55%
NASDAQ 4,731.53 -31.6940 -0.67%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs