NEW YORK (Thomson Financial) - ACCO Brands Corp. reported a fourth-quarter
adjusted earnings, which excludes non-recurring items, were $36.2 million, or 66
cents a share, exceeding the mean estimate of analysts surveyed by Thomson
Financial of 55 cents a share.
The net loss for the latest quarter was $14.1 million, or 26 cents a share.
Sales for the quarter ending Dec. 31 rose to $533.4 million from $520.6
million in the year-earlier period, topping analyst forecasts of $521 million.
Lincolnshire, Ill. office products company said it expects weak demand to
continue through the first half of 2008. As a result, the company expects 2008
revenue to be flat to down in the mid-single digit percentage range and
earnings-per-share growth of flat to low double-digits.
The stock closed Tuesday at $13.67.
Tomi Kilgore
tk1
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