Blount International raises outlook

Its shares rose $1.74, or 19.3 percent, to $10.75 in morning trading.

The company now expects revenue between $610 million and $615 million, compared with guidance in August of $600 million to $610 million.

Analysts polled by Thomson Reuters, on average, predict revenue of $604.4 million.

The Portland, Ore., company also raised its operating income forecast to between $86 million and $88 million for the year. It had anticipated operating income would be between $79 million and $81 million, assuming steel and fuel-price increases will offset price increases for its own products. The estimate includes $3 million in charges related to its acquisition of Carlton Holdings Inc., a saw-chain maker Blount acquired in May.

The company said the outlook reflects higher steel costs being offset by the stronger U.S. dollar and higher average selling prices.

Blount reported Wednesday that its third-quarter profit more than doubled, helped by higher sales of chainsaw-related products.