LAKE ZURICH, Ill. (AP) — LAKE ZURICH, Ill. (AP) — Acco Brands Corp. (ACCO) on Thursday reported second-quarter net income of $29.2 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Lake Zurich, Illinois-based company said it had net income of 31 cents. Earnings, adjusted for one-time gains and costs, came to 28 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The maker of office supplies posted revenue of $394.8 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $389.8 million.
For the current quarter ending in September, Acco expects its per-share earnings to range from 21 cents to 24 cents.
The company expects full-year earnings in the range of 83 cents to 90 cents per share.
In the final minutes of trading on Thursday, the company’s shares hit $3.75. A year ago, they were trading at $5.11.
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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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