Blount International Inc (BLT) 10-Q Quarterly Report Thu Nov 06 2014

Sales in the third quarter were $245.2 million, an increase of $14.6 million or 6.3 percent compared to the third quarter of 2013. Operating income for the third quarter of 2014 was $23.5 million compared to $15.6 million in the same quarter last year. Third quarter net income was $16.1 million, or $0.32 per diluted share, compared to $7.7 million, or $0.15 per diluted share, in the third quarter of 2013.

“We performed well in the third quarter and demand continued to be strong across most geographic regions,” stated Josh Collins, Blount’s Chairman and CEO. “With the improved demand, our strong focus on Operational Excellence, and our other targeted cost-reduction initiatives, we expect to be toward the high end of the 2014 targets we outlined last quarter.”

Blount operates primarily in two business segments - the Forestry, Lawn, and Garden (“FLAG”) segment and the Farm, Ranch, and Agriculture (“FRAG”) segment. The Company reports separate results for the FLAG and FRAG segments. Blount’s Concrete Cutting and Finishing (“CCF”) business is included in “Corporate and Other.”

Forestry, Lawn, and Garden

The FLAG segment had third quarter 2014 sales of $159.1 million, which was $9.6 million higher than the third quarter of 2013. Sales volume increases were partially offset by a reduction in average prices. Third quarter 2014 sales increased in all geographic regions except Asia, with North America generating approximately seven percent growth and Europe and Russia achieving approximately 10 percent growth. Asia sales were down one percent compared to the third quarter of 2013. Lower average prices partially offset the effect of increased volumes as a result of a higher mix of sales to original equipment manufacturers and targeted price reductions in certain geographic markets. The change in segment sales for the comparable third quarter periods is illustrated below.

The following information was filed by Blount International Inc (BLT) on Wednesday, November 5, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-Q Quarterly Report

Ticker: BLT
CIK: 1001606
Form Type: 10-Q Quarterly Report
Accession Number: 0001001606-14-000128
Submitted to the SEC: Thu Nov 06 2014 3:59:17 PM EST
Accepted by the SEC: Thu Nov 06 2014
Period: Tuesday, September 30, 2014
Industry: Cutlery Handtools And General Hardware

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Blount International Inc (BLT) SEC Filing 10-Q Quarterly report for the period ending Tuesday, September 30, 2014

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