Blount Takes 1% Dip in Quarterly Sales

Blount (NYSE: BLT  ) took a few hits in this quarter's earnings report, which was released today. Sales were down 1% compared to Q3 2012, to $230.6 million, and the replacement parts manufacturer also took a $5.1 million restructuring charge for consolidating two facilities in Portland, Ore.

One reason for lower sales was lagging international revenue from Blount's FLAG division (or Forestry, Lawn, and Garden). Those "difficult economic conditions in other regions, particularly Europe and Asia," as explained by Blount CEO Josh Collins, led to a 5% drop in FLAG, while Blount's other segments, FRAG (Farm, Ranch, and Agriculture) and CCF (Concrete Cutting and Finishing) enjoyed a 6.2% and 8% boost in sales, respectively.

Blount's margins dipped this quarter as well, with operating income dropping from $22.5 million in Q3 2012 to $15.6 million, and net income falling from $11.6 million to $7.7 million. Collins said that, despite this quarter's dropping financials, Blount "generated significant cash flow and reduced net debt and working capital in the third quarter," and that "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."

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2710050, ~/Articles/ArticleHandler.aspx, 7/29/2014 7:07:14 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement