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ACCO Brands Corporation reports recurring developments tied to its branded consumer, technology and business products for schools, homes and workplaces. Coverage includes earnings releases, segment trends in the Americas and International businesses, dividend declarations, cost-reduction actions, cash flow and leverage commentary, and updates on office product demand and technology accessory growth.
Company news also covers product activity across its brand portfolio, including Kensington computer and mobility accessories, VeriMark security keys, and other categories such as storage and organization, notebooks, shredding, laminating, binding and presentation products. Recent corporate updates include the completed EPOS acquisition and its role in ACCO Brands' technology peripherals portfolio.
ACCO Brands announces the launch of Xyron's new line of Hot Glue Guns, designed for both small and high-volume crafting projects. The lineup includes four styles of glue guns and four types of glue sticks, offering high-temperature performance and safety features such as silicone insulated nozzles. The Xyron Hot Glue Pen, priced at $29.99, caters to intricate designs, while the Mini Hot Glue Gun is available at $7.99 for quick projects. This innovative product lineup reflects ACCO's commitment to enhancing creative solutions for artists and hobbyists.
ACCO Brands Corporation (NYSE: ACCO) has announced its agreement to acquire PowerA, a prominent provider of gaming accessories, for a total upfront payment of $340 million, with potential additional payments based on performance. This acquisition aims to enhance ACCO's consumer-focused strategy, which has previously seen significant growth. PowerA holds a strong position in the gaming market, showing over 20% sales growth in 2020, expected to reach approximately $200 million. The deal is anticipated to be accretive to earnings in its first year and aims to leverage ACCO's global reach.
ACCO Brands Corporation (NYSE: ACCO) is set to participate in the virtual Southwest IDEAS Investor Conference, with its presentation scheduled for November 18 at 8:00 a.m. EST. The webcast will be accessible via the Investor Relations section of www.accobrands.com and the conference website, www.IDEASconferences.com. The presentation will be archived for 90 days post-event, allowing investors to revisit the insights shared during the conference.
ACCO Brands Corporation (NYSE: ACCO) reported third quarter earnings for the period ending September 30, 2020, with a net income of $18.8 million, or $0.20 per share, down from $28.0 million, or $0.28 per share in 2019. Net sales decreased by 12% to $444 million due to COVID-19 impacts, while adjusted net income was $18.1 million, or $0.19 per share. The EMEA region showed improvement, partially offsetting declines in Latin America and North America. The company generated $89 million in cash from operations and repaid $124 million in debt during the quarter.
ACCO Brands Corporation (NYSE: ACCO) plans to release its third quarter 2020 earnings on October 27, 2020, after market close. A conference call and webcast to discuss the results is scheduled for October 28 at 8:30 a.m. EDT. Investors can access the webcast via the ACCO Brands Investor Relations website. ACCO Brands is a leading player in the design, marketing, and manufacturing of branded academic and business products, with a strong portfolio sold in over 100 countries.