LAKE ZURICH, Ill. (AP) — LAKE ZURICH, Ill. (AP) — Acco Brands Corp. (ACCO) on Thursday reported a second-quarter loss of $125.2 million, after reporting a profit in the same period a year earlier.
The Lake Zurich, Illinois-based company said it had a loss of $1.29 per share. Earnings, adjusted for one-time gains and costs, were 37 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.
The maker of office supplies posted revenue of $438.3 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $452.7 million.
For the current quarter ending in September, Acco expects its per-share earnings to range from 21 cents to 24 cents.
The company expects full-year earnings in the range of $1.04 to $1.09 per share.
In the final minutes of trading on Thursday, the company's shares hit $4.98. A year ago, they were trading at $6.12.
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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
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