Acco: 2Q Earnings Snapshot
LAKE ZURICH, Ill. (AP) _ Acco Brands Corp. (ACCO) on Tuesday reported second-quarter net income of $25.7 million.
The Lake Zurich, Illinois-based company said it had net income of 24 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 four analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The maker of office supplies posted revenue of $498.8 million in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $494.7 million.
Acco expects full-year earnings in the range of $1.33 to $1.37 per share.
Acco shares have climbed 11 percent since the beginning of the year. The stock has climbed 15 percent in the last 12 months.