LAKE ZURICH, Ill. (AP) — LAKE ZURICH, Ill. (AP) — Acco Brands Corp. (ACCO) on Thursday reported a loss of $13.2 million in its first quarter.
On a per-share basis, the Lake Zurich, Illinois-based company said it had a loss of 14 cents. Losses, adjusted for amortization costs and restructuring costs, came to 2 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The maker of office supplies posted revenue of $317.4 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $318.8 million.
For the current quarter ending in June, Acco expects its per-share earnings to range from 28 cents to 32 cents.
In the final minutes of trading on Thursday, the company’s shares hit $3.86. A year ago, they were trading at $4.76.
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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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