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

Blount International Inc

CIK: 1001606 Ticker: BLT


Exhibit 99.1


Blount Announces Third Quarter 2015 Results
Third quarter 2015 sales of $209 million, down 15 percent compared to prior year
Net debt down $28 million on positive free cash flow generation
Adjusted EBITDA of $30 million increased sequentially by 11 percent, down 22 percent versus prior year
Additional actions taken in third quarter to align production rates and spending with updated 2015 outlook
Continued headwind from strong U.S. Dollar, global economic conditions, and cyclical downturn in agricultural markets
Full year 2015 outlook of $820 million to $840 million of sales and $100 million to $105 million of Adjusted EBITDA


PORTLAND, OR - November 9, 2015: Blount International, Inc. [NYSE: BLT] (“Blount” or “Company”) today announced results for the
third quarter ended September 30, 2015.

Results for the Quarter Ended September 30, 2015
Sales in the third quarter were $209.2 million, a decrease of $36.1 million or 14.7 percent compared to the third quarter of 2014. Operating income for the third quarter of 2015 was $14.1 million compared to $23.5 million in the same quarter last year. Consolidated Adjusted EBITDA for the third quarter of 2015 was $29.8 million compared to $38.2 million in the third quarter of 2014. Third quarter net income was $12.3 million, or $0.25 per diluted share, compared to net income of $16.1 million, or $0.32 per diluted share, in the same quarter last year.

“We continued to experience significant headwinds in the third quarter driven by the strength of the U.S. Dollar,” stated Josh Collins, Blount’s Chairman and CEO. “Our sales were unfavorably impacted by current global economic conditions, continued U.S. Dollar strength versus foreign currencies, and the cyclical downturn in the agriculture machinery market that has negatively impacted sales in most parts of our FRAG business. In response to the lower demand, we have further reduced production rates and headcount, primarily at our U.S.-based production facilities, and we are actively managing our spending and staffing while maintaining focus on 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 third quarter 2015 sales of $129.7 million, which was $29.4 million, or 18.5 percent, lower than the third quarter of 2014, primarily as the result of reduced unit volume along with foreign currency exchange rate changes. Segment sales were unfavorably impacted by pressure from continued U.S. Dollar strength where the company invoices in U.S. Dollars outside the U.S. Additionally, sales to OEMs remained soft, primarily in North



The following information was filed by Blount International Inc (BLT) on Monday, November 9, 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: 0001001606-15-000063
Submitted to the SEC: Mon Nov 09 2015 4:32:33 PM EST
Accepted by the SEC: Mon Nov 09 2015
Period: Wednesday, September 30, 2015
Industry: Cutlery Handtools And General Hardware

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