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Acco: Q2 Earnings Snapshot

LAKE ZURICH, Ill. (AP) — LAKE ZURICH, Ill. (AP) — Acco Brands Corp. (ACCO) on Thursday reported second-quarter profit of $14.1 million.

On a per-share basis, the Lake Zurich, Illinois-based company said it had net income of 15 cents. Earnings, adjusted for one-time gains and costs, were 29 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.

The maker of office supplies posted revenue of $415.1 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $402.5 million.

For the current quarter ending in September, Acco expects its per-share earnings to range from 17 cents to 21 cents.

The company expects full-year earnings in the range of 87 cents to 91 cents per share.

In the final minutes of trading on Thursday, the company’s shares hit $4.25. A year ago, they were trading at $3.78.

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This story was generated by (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a at https://www.zacks.com/ap/ACCO

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