ACCO Brands dips 19% after swinging to Q2 loss

ACCO Brands Corp. (NYSE:ABD) is falling 19% after the office supply products maker reported a second-quarter net loss of $46.7 million, or $0.86 per share, versus a profit of $4.5 million, or $0.08 per share, a year earlier. On an adjusted basis, ACCO earned $0.12 a share. Wall Street analysts anticipated earnings of $0.18 per share.

Quarterly revenue declined 5% to $440 million from $464.9 million a year ago. Wall Street was looking for $445.4 million.

In Wednesday morning trading, ABD is down 19.35%, or $1.74, to $7.25. For detailed price information and recent news stories about ACCO Brands, click ABD.

About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau. Read More

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