Blount International's profit, sales soar

PORTLAND, Ore. - Blount International Inc., which makes outdoor equipment, said Wednesday third-quarter profit rose 56 percent, helped by higher sales of chainsaw-related products. The company also raised its sales guidance for the year.

Shares of Blount International rose $1.35, or nearly 15 percent, to $10.36 in morning trading.

The company said net income rose to $14.8 million, or 31 cents per share, from $9.4 million, or 20 cents per share, last year. Analysts polled by Thomson Reuters, on average, predicted a profit of 20 cents per share.

The company said results were helped by higher volume of saw-chain products and sales from Carlton Holdings Inc., a saw-chain maker Blount acquired in May.

Revenue rose 35 percent to $175 million, topping Wall Street expectations of $157.3 million.

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