Blount Reports Second Quarter Earnings
Aug 11, 2003
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Blount International, Inc., a manufacturer of specialty lawnmowers and other outdoor products and accessories, reported results for the second quarter ended June 30, 2003. Sales for the quarter were U.S. $131.2 million, a 6.4-percent increase from sales in last year's second quarter. Net loss for the quarter was $0.7 million ($0.02 per share) compared to a net income of $0.5 million ($0.02 per share) in 2002. This quarter's net loss includes $2.8 million in pre-tax charges related to the extinguishment of debt in connection with the procurement of a new credit facility in May. This charge was partially offset by a $0.1 million increase in income from operations, a $0.4 million reduction in interest expense, and reduced income taxes of $0.7 million, according to the company.

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