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Blount International Inc (BLT) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Blount International Inc

CIK: 1001606 Ticker: BLT

Exhibit 99.1

 

LOGO   Blount International, Inc.
  4909 SE International Way (97222 4679)
  PO Box 22127
  Portland, OR 97269 2127 USA
  (503) 653-8881
  FAX: (503) 653-4555

 

LOGO

 

  Contact:   David Dugan
   

Director, Corporate Communications and

Investor Relations

    503-653-4692
  Release:   Immediately

Blount Announces Fourth Quarter 2012 Results and Provides Full Year 2013 Guidance

 

   

Fourth quarter 2012 sales of $230 million

 

   

Fourth quarter 2012 FLAG sales increased two percent, excluding currency impacts, compared to fourth quarter 2011

 

   

2013 full year sales growth of zero to five percent expected

PORTLAND, OR – March 7, 2013: Blount International, Inc. [NYSE: BLT] (“Blount” or “Company”) today announced results for the fourth quarter ended December 31, 2012, and provided its 2013 full year sales and operating income outlook.

Results for the Quarter Ended December 31, 2012

Sales in the fourth quarter were $229.6 million, a three percent decrease from the fourth quarter of 2011. Operating income for the fourth quarter of 2012 was $19.4 million compared to $21.4 million in the prior year. Fourth quarter net income was $9.0 million, or $0.18 per diluted share, compared to $9.5 million, or $0.19 per diluted share, in the fourth quarter of 2011.

Full year 2012 sales were $927.7 million, a 12 percent increase from 2011. Full year 2012 sales declined five percent when excluding sales generated from acquired businesses. Operating income for 2012 was $79.3 million compared to $98.0 million in 2011, and 2012 net income was $39.6 million ($0.79 per diluted share) compared to $49.7 million ($1.01 per diluted share) in 2011.

“As we have discussed over the past few quarters, the integration of the businesses we acquired over the previous two years was a significant focus last year,” stated Josh Collins, Blount’s Chairman and Chief Executive Officer. “During 2012, our European and North American markets experienced slowing demand, driven by economic uncertainty and weather-induced, slower buying patterns by our customers. We anticipate a modest overall increase in customer demand in 2013.”

Mr. Collins continued, “Over the last year, we had many achievements that our overall profitability does not reflect. For example, we invested in our infrastructure to position the Company for future growth through the expansion of our Fuzhou, China, facility and consolidation of our North American assembly and distribution operations. Although these moves came at a substantial cost, we believe the heavy lifting is behind us. Our focus in 2013 will include additional work in expanding the Fuzhou capacity and other efforts to satisfy customer demand, as well as methodically completing the integration of Woods, TISCO, PBL, and KOX.”

 

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The following information was filed by Blount International Inc (BLT) on Thursday, March 7, 2013 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Schedule Of Valuation And Qualifying Accounts
Consolidated Schedule Of Valuation And Qualifying Accounts (details)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Changes In Stockholders' Equity (deficit) (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (parenthetical)
Consolidated Statements Of Changes In Stockholders' Equity (deficit)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Accrued Expenses
Accrued Expenses (details)
Accrued Expenses (tables)
Acquisitions
Acquisitions (details 1)
Acquisitions (details 2)
Acquisitions (details 3)
Acquisitions (details 4)
Acquisitions (details Textual)
Acquisitions (details)
Acquisitions (tables)
Business And Summary Of Significant Accounting Policies
Business And Summary Of Significant Accounting Policies (details Textual)
Business And Summary Of Significant Accounting Policies (details)
Business And Summary Of Significant Accounting Policies (policies)
Business And Summary Of Significant Accounting Policies (tables)
Commitments
Commitments (details 1)
Commitments (details 2)
Commitments (details 3)
Commitments (details Textual)
Commitments (details)
Commitments (tables)
Concentration Of Credit Risk And Fair Value Of Financial Instruments
Concentration Of Credit Risk And Fair Value Of Financial Instruments (details 1)
Concentration Of Credit Risk And Fair Value Of Financial Instruments (details 2)
Concentration Of Credit Risk And Fair Value Of Financial Instruments (details Textual)
Concentration Of Credit Risk And Fair Value Of Financial Instruments (details)
Concentration Of Credit Risk And Fair Value Of Financial Instruments (tables)
Contingent Liabilities
Contingent Liabilities (details Textual)
Debt
Debt (details 1)
Debt (details Textual)
Debt (details)
Debt (tables)
Deferred Financing Costs
Deferred Financing Costs (details 1)
Deferred Financing Costs (details)
Deferred Financing Costs (tables)
Discontinued Operations
Discontinued Operations (details Textual)
Discontinued Operations (details)
Discontinued Operations (tables)
Earnings Per Share Data
Earnings Per Share Data (details)
Earnings Per Share Data (tables)
Facility Closure And Restructuring Costs
Facility Closure And Restructuring Costs (details)
Income Taxes
Income Taxes (details 1)
Income Taxes (details 2)
Income Taxes (details 3)
Income Taxes (details 4)
Income Taxes (details 5)
Income Taxes (details Textual)
Income Taxes (details)
Income Taxes (tables)
Intangible Assets
Intangible Assets (details 1)
Intangible Assets (details Textual)
Intangible Assets (details)
Intangible Assets (tables)
Inventories
Inventories (details)
Inventories (tables)
Other Post-employment Benefit Plans
Other Post-employment Benefit Plans (details 1)
Other Post-employment Benefit Plans (details 2)
Other Post-employment Benefit Plans (details 3)
Other Post-employment Benefit Plans (details Textual)
Other Post-employment Benefit Plans (details)
Other Post-employment Benefit Plans (tables)
Property Plant And Equipment Net (tables)
Property, Plant, And Equipment, Net
Property, Plant, And Equipment, Net (details)
Quarterly Results Of Operations
Quarterly Results Of Operations (details Textual)
Quarterly Results Of Operations (details)
Quarterly Results Of Operations (tables)
Retirement Plans
Retirement Plans (details 1)
Retirement Plans (details 2)
Retirement Plans (details 3)
Retirement Plans (details 4)
Retirement Plans (details 5)
Retirement Plans (details 6)
Retirement Plans (details 7)
Retirement Plans (details Textual)
Retirement Plans (details)
Retirement Plans (tables)
Segment Information
Segment Information (details 1)
Segment Information (details 2)
Segment Information (details Textual)
Segment Information (details)
Segment Information (tables)
Stock-based Compensation
Stock-based Compensation (details 1)
Stock-based Compensation (details 2)
Stock-based Compensation (details 3)
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)
Ticker: BLT
CIK: 1001606
Form Type: 10-K Annual Report
Accession Number: 0001193125-13-097962
Submitted to the SEC: Fri Mar 08 2013 12:58:46 PM EST
Accepted by the SEC: Fri Mar 08 2013
Period: Monday, December 31, 2012
Industry: Cutlery Handtools And General Hardware

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