Thanks in part to strong international conditions, the seller of industrial and outdoor products surprised analysts Thursday with earnings of 23 cents per share, 5 cents higher than analysts expected. Low expectations were perhaps due to BLT 's poor first-quarter report, which reflected weak demand for timber products and a decline in housing starts.
Sales grew 3 percent to $170.4 million, compared with the same quarter last year. Earnings increased nearly 19 percent to $11.1 million from $9.4 million, or 20 cents per share, a year ago.
All else being equal, a continued good international market and stronger growth in the timber market could keep BLT on a positive path through to the fourth quarter. The boost to its second-quarter earnings is in part thanks to its foreign sales. Internationally, its outdoor products segment saw a 17% increase over last year's second quarter while its industrial and power equipment segment saw an increase of 15%.
Blount closed at $13.50 on Thursday, gaining $1.83, or 15.68%.
