LAKE ZURICH, Ill. (AP) _ Acco Brands Corp. (ACCO) on Thursday reported a first-quarter loss of $600,000, after reporting a profit in the same period a year earlier.
The Lake Zurich, Illinois-based company said it had a loss of 1 cent per share. Earnings, adjusted for non-recurring costs, came to 8 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The maker of office supplies posted revenue of $393.9 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $389.9 million.
Acco expects full-year earnings in the range of $1.10 to $1.20 per share.
Acco shares have increased 31% since the beginning of the year. The stock has declined 24% in the last 12 months.
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