A hand-held rotary cutter assembly for cutting material includes a blade receptacle having a first surface having an indentation formed therein. An edge guide is received in the indentation. The edge guide includes a continuous linear edge. A blade engages the edge guide. The edge guide and the blade are configured to move simultaneously and linearly from a first position to a second position. A segmented portion of the blade extends outwardly from the continuous linear edge of the edge guide.