Blount International Earnings: Here’s Why Investors are Ambivalent Now
Blount International Inc. (NYSE:BLT) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Blount International Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 24% to $0.19 in the quarter versus EPS of $0.25 in the year-earlier quarter.
Revenue: Rose 2.78% to $232.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Blount International Inc. reported adjusted EPS income of $0.19 per share. By that measure, the company missed the mean analyst estimate of $0.2. It beat the average revenue estimate of $230.8 million.
Quoting Management: “With the first quarter behind us, we have a clearer view of 2013,” stated Josh Collins, Blount’s Chairman and CEO. “At this point, business conditions remain very similar to 2012, and the challenges of current global economic conditions continue to weigh on our results, particularly in Europe.”
Mr. Collins continued, “Our focus will continue to be on execution, enhancing our operations through our Continuous Improvement program and other initiatives, and managing for the long-term while balancing our business and investments with the current market conditions.”
Key Stats (on next page)…