On Nov. 5, Blount International, Inc. announced results for the third quarter ended September 30, 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.”
For further details about Oregon’s third-quarter results, visit www.blount.com.