Definition of punt-out:
(n) :
(American football) A punt made from the goal line by a player of the side which has made a touchdown to one of his own side for a fair catch, from which an attempt to kick a goal may be made.
(n) :
(rugby, obsolete) A kick back into play from the touch line, after the ball had gone into touch. It has been replaced by the lineout/line-out
(n) :
(soccer, obsolete) A method of returning the ball into play, similar to a goal kick