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ACCO Brands Corp Lowers FY 2013 Guidance


Wednesday, 31 Jul 2013 07:00am EDT 

ACCO Brands Corp announced that for fiscal 2013, it expects pro forma adjusted earnings per share to be $0.90-$0.95, or pro forma growth of 10% -16%, excluding currency. The earnings improvement is expected to be driven by the realization of $20 million of cost synergies and now $25 million of productivity improvements. The Company now expects fiscal 2013 sales to be down approximately 3%-6%, on a pro forma basis, excluding currency, driven by softer volume. The Company reported revenue of $1.758 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $1.8 billion and EPS of $1.00 for fiscal 2013. 

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6.38
-0.04 -0.62%
11 Jul 2014