On March 11, Blount International, Inc., Portland, Ore., announced results for the fourth quarter and full year ended Dec. 31, 2014.
Sales in the fourth quarter were $232.2 million, an increase of $15.3 million or 7 percent compared to the fourth quarter of 2013. Operating loss for the fourth quarter of 2014 was $2.5 million compared to an operating loss of $16.5 million in the same quarter last year. Adjusted EBITDA in the fourth quarter was $30.5 million, an increase of $6.0 million or 24 percent compared to the fourth quarter of 2013. Fourth-quarter net loss was $2.4 million, or $0.05 per diluted share, compared to net loss of $21.5 million, or $0.43 per diluted share, in the fourth quarter of 2013.
Sales for the full year were $944.8 million, an increase of $44.2 million or 5 percent compared to full-year 2013. Operating income for 2014 was $64.2 million compared to operating income of $37.5 million for full-year 2013. Adjusted EBITDA for full-year 2014 was $138.0 million, an increase of $14.5 million or 12 percent compared to full-year 2013. The full-year 2014 net income was $36.6 million, or $0.73 per diluted share, compared to net income of $4.8 million, or $0.10 per diluted share, for full-year 2013.
“We operated well in 2014, and our results reflect our performance and stronger demand in our core business compared to the previous year,” stated Josh Collins, Blount’s chairman and CEO. “Our continued focus on Operational Excellence and our targeted cost reductions positively impacted our results for the quarter and the full year.”
Collins continued, “Looking ahead to 2015, we remain focused on operating well and executing on our strategic plan. While the underlying fundamentals of our business are sound, we are experiencing significant headwinds from foreign currency markets related to the strength of the U.S. Dollar.”
For more specifics on Blount’s fourth-quarter and full-year 2014 results, visit blount.com.