LAKE ZURICH, Ill. (AP) — LAKE ZURICH, Ill. (AP) — Acco Brands Corp. (ACCO) on Monday reported fourth-quarter profit of $21.3 million.
On a per-share basis, the Lake Zurich, Illinois-based company said it had net income of 23 cents. Earnings, adjusted for one-time gains and costs, were 38 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 38 cents per share.
The maker of office supplies posted revenue of $428.8 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $431.9 million.
For the year, the company reported net income of $41.3 million, or 44 cents per share, swinging to a profit in the period. Revenue was reported as $1.52 billion.
For the current quarter ending in March, Acco expects its results to range from a loss of 6 cents per share to a loss of 3 cents per share.
The company expects full-year earnings in the range of 84 cents to 89 cents per share.
The company’s shares closed at $3.91. A year ago, they were trading at $4.71.
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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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