ACCO Brands Expects Fiscal 2013 Sales To Decline 5% - Quick Facts

(RTTNews) - ACCO Brands Corp. (ACCO) said it expects sales for the full-year 2013 to decline 5 percent from the prior-year pro forma level to $1.79 billion, excluding a 2 percent negative impact from foreign currency or $1.76 billion including the currency impact, according to preliminary unaudited results.

The company also estimates fiscal 2013 adjusted earnings, excluding an about $0.03 currency impact, in a range of around $0.78 to $0.79 per share.

On average, analysts polled by Thomson Reuters currently expects the company to report earnings of $0.76 per share on revenues of $1.75 billion for fiscal 2013. Analysts' estimates typically exclude special items.

Further, the company said it achieved its full-year cash flow target, and paid down $150 million of debt in 2013.

For the fourth quarter, the company projects sales of about $500 million, including the currency impact. Street is currently looking for sales of $485.14 million for the fourth quarter.

The company is scheduled to report fourth quarter and full-year 2013 results on February 12, 2014.