LAKE ZURICH, Ill. (AP) — LAKE ZURICH, Ill. (AP) — Acco Brands Corp. (ACCO) on Thursday reported a fourth-quarter loss of $59.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Lake Zurich, Illinois-based company said it had a loss of 62 cents. Earnings, adjusted for one-time gains and costs, were 39 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The maker of office supplies posted revenue of $488.6 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $476.4 million.
For the year, the company reported that its loss widened to $21.8 million, or 23 cents per share. Revenue was reported as $1.83 billion.
For the current quarter ending in March, Acco expects its per-share earnings to range from 1 cent to 4 cents.
The company expects full-year earnings in the range of $1.07 to $1.11 per share.
Acco shares have risen almost 6% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.42, an increase of 15% 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