Blount International (BLT) Reports Material Weakness in Financials, Shares Fall

By on August 9, 2013

On August 7, 2013, Blount International common stock declined $1.13 or 8.84% to close at $11.66 after the Portland-based outdoor equipment company said it would need to amend its 2012 10-K filing and first quarter 2013 10-Q filing to take into account for material weaknesses in Blount International’s internal controls over financial reporting.

Blount International also announced that it would not be able to timely file its second quarter 10-Q for 2013, and may have to restate its 2012 financial statements to reflect an impairment of goodwill.

If you would like more information on Blount International or other news, please click the green button below and fill out the form.