Acco: 4Q Earnings Snapshot
AP wire

Acco: 4Q Earnings Snapshot

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LAKE ZURICH, Ill. (AP) — Acco Brands Corp. (ACCO) on Tuesday reported fourth-quarter profit of $43.5 million.

The Lake Zurich, Illinois-based company said it had net income of 44 cents per share. Earnings, adjusted for one-time gains and costs, were 46 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The maker of office supplies posted revenue of $537.4 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $534.6 million.

For the year, the company reported profit of $106.8 million, or $1.06 per share. Revenue was reported as $1.96 billion.

Acco expects full-year earnings in the range of $1.20 to $1.30 per share.

Acco shares have fallen 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $9.15, a rise of 2.5% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACCO at https://www.zacks.com/ap/ACCO

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