Acco: Q4 Earnings Snapshot

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LAKE ZURICH, Ill. (AP) — LAKE ZURICH, Ill. (AP) — Acco Brands Corp. (ACCO) on Thursday reported fourth-quarter net income of $20.6 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 21 cents. Earnings, adjusted for amortization costs and restructuring costs, were 39 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The maker of office supplies posted revenue of $448.1 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $455.1 million.

For the year, the company reported that its loss widened to $101.6 million, or $1.06 per share. Revenue was reported as $1.67 billion.

Acco expects full-year earnings in the range of $1 to $1.05 per share.

Acco shares have climbed 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.52, a decline of 14% 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