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Blount International Inc (BLT) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2015

Blount International Inc

CIK: 1001606 Ticker: BLT


Exhibit 99.1


Blount Announces Preliminary Second Quarter 2015 Results
Second quarter 2015 sales declined 10 percent to $213 million year-over-year
Continued headwind from a strong U.S. Dollar
Sales and Adjusted EBITDA increased sequentially versus first quarter 2015
Actions taken to align production rates and spending with updated 2015 outlook
Updated full year 2015 guidance for sales and Adjusted EBITDA


PORTLAND, OR - August 5, 2015: Blount International, Inc. [NYSE: BLT] (“Blount” or “Company”) today announced preliminary results for the
second quarter ended June 30, 2015.

Preliminary Results for the Quarter Ended June 30, 2015
Sales in the second quarter were $212.7 million, a decrease of $22.7 million or 9.6 percent compared to the second quarter of 2014. Operating loss for the second quarter of 2015 was $47.3 million, including a $62 million non-cash impairment charge, compared to operating income of $22.4 million in the same quarter last year. Consolidated Adjusted EBITDA for the second quarter of 2015 was $26.9 million compared to $34.8 million in the second quarter of 2014. Preliminary second quarter net loss was $49.5 million, or $1.02 per diluted share, compared to net income of $12.3 million, or $0.25 per diluted share, in the same quarter last year. The net loss reflects a preliminary non-cash impairment charge for certain intangible assets and related estimated income tax impact.

“We continued to experience significant currency-related headwinds in the second quarter driven by the strength of the U.S. Dollar,” stated Josh Collins, Blount’s Chairman and CEO. “Our sales were impacted by the translation of non-U.S. Dollar transactions, and our sales volumes were affected by lower demand from non-U.S. customers that pay in U.S. Dollars. We are also experiencing a sharp cyclical downturn in the North American agriculture market, which has negatively impacted sales in most parts of our FRAG business. In response to the lower demand, we have reduced production rates, primarily at our Portland, Oregon forestry plant, and we are actively managing our spending and staffing while maintaining our strategic investments.”

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 second quarter 2015 sales of $146.4 million, which was $13.7 million lower than the second quarter of 2014. Second quarter 2015 sales were down in nearly all geographies, primarily as the result of



The following information was filed by Blount International Inc (BLT) on Wednesday, August 5, 2015 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

Document And Entity Information
Consolidated Balance Sheets (parenthetical) (unaudited)
Consolidated Balance Sheets (unaudited)
Consolidated Statements Of Cash Flows (unaudited)
Consolidated Statements Of Comprehensive Income (unaudited)
Consolidated Statements Of Income (unaudited)
Statement Of Changes In Stockholders' Equity (parenthetical)
Statement Of Changes In Stockholders' Equity Statement
Accumulated Other Comprehensive Loss (details 1)
Accumulated Other Comprehensive Loss (details)
Accumulated Other Comprehensive Loss (notes)
Accumulated Other Comprehensive Loss (tables)
Acquisitions (details)
Acquisitions (notes)
Basis Of Presentation
Basis Of Presentation (details)
Basis Of Presentation (policies)
Common Stock (details)
Common Stock (notes)
Common Stock (tables)
Common Stock Shares Repurchase Program (details)
Contingent Liabilities
Contingent Liabilities Contingent Liabilities (details)
Debt
Debt (details Textual)
Debt (details)
Debt (tables)
Facility Closure And Restructuring Costs
Facility Closure And Restructuring Costs (details)
Fair Value Of Financial Instruments And Concentration Of Credit Risk
Fair Value Of Financial Instruments And Concentration Of Credit Risk (details 2)
Fair Value Of Financial Instruments And Concentration Of Credit Risk (details Textual)
Fair Value Of Financial Instruments And Concentration Of Credit Risk (details)
Fair Value Of Financial Instruments And Concentration Of Credit Risk (tables)
Financial Guarantees And Commitments
Financial Guarantees And Commitments (details)
Financial Guarantees And Commitments (tables)
Financial Guarantees And Commitments Changes In The Warranty Reserve (details)
Income Taxes (details)
Income Taxes (notes)
Intangible Assets
Intangible Assets (details 3)
Intangible Assets (details)
Intangible Assets (tables)
Intangible Assets Intangible Assets (details 2)
Intangible Assets Intangible Assets (details Textual)
Inventories
Inventories (details)
Inventories (tables)
May 2015 Senior Credit Facility (details)
Pension And Other Post-employment Benefit Plans
Pension And Other Post-employment Benefit Plans (details)
Pension And Other Post-employment Benefit Plans (tables)
Segment Information
Segment Information (details Textual)
Segment Information (details)
Segment Information (tables)
Stock-based Compensation
Stock-based Compensation (details 1)
Stock-based Compensation (details Textual)
Stock-based Compensation (details)
Stock-based Compensation (tables)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (details)
Supplemental Cash Flow Information (tables)

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Blount International Inc provided additional information to their SEC Filing as exhibits

Ticker: BLT
CIK: 1001606
Form Type: 10-Q Quarterly Report
Accession Number: 0001001606-15-000042
Submitted to the SEC: Mon Aug 10 2015 4:39:31 PM EST
Accepted by the SEC: Mon Aug 10 2015
Period: Tuesday, June 30, 2015
Industry: Cutlery Handtools And General Hardware

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