Wednesday, ACCO Brands Corp. (ABD) said its third-quarter reported net income was $1.3 million or $0.02 per share compared with a loss of $32.7 million or $0.60 per share in the prior year period.
Excluding charges, adjusted income from continuing operations for the quarter fell to $8.7 million or $0.15 per share from $12.6 million or $0.23 per share,in the year-ago period. On average, 3 analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share for the quarter.
Net sales for the quarter decreased 21%, to $322.5 million from $410.8 million in the earlier quarter.
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