Blount International, Inc. (BLT) reported third quarter net income of $11.3 million or $0.23 per share, down from $14.8 million or $0.31 per share in the same quarter a year-ago.
On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.18 per share. Analysts' estimates typically exclude special items.
Quarterly sales declined to $130.4 million from $175.0 million in the corresponding quarter last year. On average, three analysts had consensus revenue estimate of $132.51 million for the quarter.
Looking ahead, the company tightens its full year 2009 sales outlook to a range of $480 million - $490 million from its prior guidance of $470 million - $490 million. Analysts estimate full-year 2009 revenues of $483.78 million.
The company now expects full year 2009 operating income to range between $57 million and $60 million, compared to a prior outlook of $55 million-$60 million.
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