Acco expects 2013 results to top Street's view

Published on NewsOK Modified: January 14, 2014 at 8:13 am •  Published: January 14, 2014
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LAKE ZURICH, Ill. (AP) — Acco Brands anticipates its 2013 revenue will decline, but still beat Wall Street's expectations. Adjusted earnings are also forecast to top analysts' estimates.

Its stock rose in Tuesday premarket trading.

The office products company foresees full-year revenue falling 5 percent to $1.76 billion. Excluding the impact of foreign currency, revenue is expected to be $1.79 billion.

Analysts polled by FactSet predict 2013 revenue of $1.75 billion.

Acco Brands Corp. expects full-year adjusted earnings of 78 cents to 79 cents per share, above Wall Street's estimate of 76 cents per share.

For the fourth quarter, the company said revenue totaled about $500 million. Analysts are calling for $485.1 million in revenue.

Acco will report its fourth-quarter and full-year financial results on Feb. 12.

The Lake Zurich, Ill., company's stock climbed 30 cents, or 4.8 percent, to $6.57 before the market open.

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