Abstract: A blanket cutter (10) used in conjunction with an offset printing press, for example. Blanket cutter (10) can include an elongated rail (12) mountable proximate to a blanket cylinder (11). Slidably supported by rail (12) is a cutter assembly (20) including a puck assembly (22) which adjustably holds a knife or tramming gauge (24). The knife (24) can be moved in and out relative to puck (22) to adjust the depth of the cut; and knife (24) can be twisted about its axis (41) to reorient the blade of the knife depending on whether the cut is horizontal (axial) or vertical (circumferential). The puck can be moved along rail (12) to make a horizontal/axial cut; and the blanket cylinder (11) can be rotated, in a preferred embodiment, to make a vertical/circumferential cut. The result is a blanket cut that is faster and more accurate than that achieved using a freehand method.