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Acco: 3Q Earnings Snapshot

·1 min read

LAKE ZURICH, Ill. (AP) _ Acco Brands Corp. (ACCO) on Tuesday reported third-quarter profit of $18.8 million.

On a per-share basis, the Lake Zurich, Illinois-based company said it had net income of 20 cents. Earnings, adjusted for one-time gains and costs, were 19 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.

The maker of office supplies posted revenue of $444.1 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $412.5 million.

For the current quarter ending in December, Acco expects its per-share earnings to range from 26 cents to 32 cents.

Acco shares have declined 37% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $5.93, a drop of 41% 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