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Acco: 3Q Earnings Snapshot

LAKE ZURICH, Ill. (AP) _ Acco Brands Corp. (ACCO) on Tuesday reported third-quarter profit of $28 million.

The Lake Zurich, Illinois-based company said it had net income of 28 cents per share. Earnings, adjusted for non-recurring costs, were 32 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.

The maker of office supplies posted revenue of $505.7 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $514.5 million.

Acco expects full-year earnings in the range of $1.15 to $1.20 per share.

Acco shares have increased 48% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $10.03, a rise of roughly 1% 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