Acco: Q3 Earnings Snapshot
LAKE ZURICH, Ill. (AP) — LAKE ZURICH, Ill. (AP) — Acco Brands Corp. (ACCO) on Thursday reported third-quarter net income of $14.9 million, after reporting a loss in the same period a year earlier.
The Lake Zurich, Illinois-based company said it had net income of 15 cents per share. Earnings, adjusted for non-recurring costs, were 24 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The maker of office supplies posted revenue of $448 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $476.4 million.
Acco shares have decreased slightly more than 7% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.18, a rise 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
