3 May 2006 – Lincolnshire (IL): Acco Brands has posted a Q1 loss on unusual charges and higher costs.
The loss of $100,000 or zero cents per share, compares with a 2005 profit of $14.6 million, or EPS of $0.42. The loss includes restructuring and non-recurring costs related to a long-term expansion plan and stock-based compensation.
Excluding this, the company said net income more than doubled to $6.2 million, or an EPS of $0.11, compared with $2.9 million, or EPS of $0.06 for the same period last year. Revenue rose 71 per cent to $468.6 million from $274.8 million the year before.
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