0000712034-16-000071.txt : 20160328 0000712034-16-000071.hdr.sgml : 20160328 20160328172140 ACCESSION NUMBER: 0000712034-16-000071 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20160325 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160328 DATE AS OF CHANGE: 20160328 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ACCO BRANDS Corp CENTRAL INDEX KEY: 0000712034 STANDARD INDUSTRIAL CLASSIFICATION: BLANKBOOKS, LOOSELEAF BINDERS & BOOKBINDING & RELATED WORK [2780] IRS NUMBER: 362704017 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08454 FILM NUMBER: 161533026 BUSINESS ADDRESS: STREET 1: FOUR CORPORATE DRIVE CITY: LAKE ZURICH STATE: IL ZIP: 60047 BUSINESS PHONE: 847-541-9500 MAIL ADDRESS: STREET 1: FOUR CORPORATE DRIVE CITY: LAKE ZURICH STATE: IL ZIP: 60047 FORMER COMPANY: FORMER CONFORMED NAME: ACCO BRANDS CORP DATE OF NAME CHANGE: 20050817 FORMER COMPANY: FORMER CONFORMED NAME: ACCO WORLD CORP DATE OF NAME CHANGE: 19830106 8-K 1 acco-20158xkannualreportwr.htm 8-K 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 25, 2016
ACCO BRANDS CORPORATION
(Exact name of registrant as specified in its charter)
____________________________
Delaware
001-08454
36-2704017
(State or other jurisdiction
of Incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
Four Corporate Drive
Lake Zurich, IL 60047
 
60047
(Address of principal executive offices)
 
(Zip Code)

Registrant's telephone number, including area code: (847) 541-9500
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8‑K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]
Soliciting material pursuant to Rule 14a‑12 under the Exchange Act (17 CFR 240.14a‑12)
[ ]
Pre-commencement communications pursuant to Rule 14d‑2(b) under the Exchange Act (17 CFR 240.14d‑2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e‑4(c) under the Exchange Act (17 CFR 240.13e‑4(c))






Section 7 - Regulation FD Disclosure
Item 7.01 - Regulation FD Disclosure.

A copy of the letter accompanying the 2015 Annual Report of ACCO Brands Corporation (the “Company”) from the Company's President and Chief Executive Officer, which was first made available to stockholders of the Company on March 25, 2016, is furnished herewith as Exhibit 99.1 and incorporated herein by reference.
The information contained in or furnished under this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that section. Furthermore, such information shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended, unless specifically incorporated by reference therein. This report will not be deemed a determination or an admission as to the materiality of any information contained in or furnished under Item 7.01 of this report that is required to be disclosed solely by Regulation FD. The information in and furnished under Item 7.01 of this report may be accurate only as of the date hereof and is subject to change. The Company does not assume any obligation to update the information furnished with this report.

Section 9 - Financial Statements and Exhibits

Item 9.01 - Financial Statements and Exhibits.

(d)  Exhibits

99.1    2015 Annual Report Stockholder Letter.





SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
 
 
 
 
 
ACCO Brands Corporation
(Registrant)
Date:
March 28, 2016
By:
 /s/ Pamela R. Schneider
 
 
 
Name: Pamela R. Schneider
 
 
 
Title: Senior Vice President
 
 
 
General Counsel, and Corporate Secretary





 
INDEX TO EXHIBITS


Exhibit
Number        Description of Exhibit

99.1        2015 Annual Report Stockholder Letter.

EX-99.1 2 acco-ex991.htm EXHIBIT 99.1 Exhibit
Exhibit 99.1



March 25, 2016
Dear ACCO Brands Shareholder:
I am pleased to report that, in fiscal year 2015, ACCO Brands Corporation delivered strong financial performance, despite customer consolidation, adverse currency pressures and an otherwise challenging international economy. We grew market share in the mass and e-tail channels, increased our operating margins, improved underlying earnings per share before the negative effects of currency translation, generated significant free cash flow, continued our share repurchase program and further reduced our leverage.
Net sales decreased 11% to $1.51 billion compared to $1.69 billion in the prior-year period. The decline was largely due to a $124 million reduction from foreign currency translation. On a constant currency basis, sales decreased 3% largely due to declines with one consolidating customer and lower sales in Brazil. Net income was $85.9 million, or $0.78 per share, compared to net income of $91.6 million, or $0.79 per share, in the prior-year period. The negative effects of foreign currency translation of $0.12 per share were mostly but not fully offset by productivity improvements, price increases and lower selling, general and administrative expenses.
Our North America business delivered solid performance in 2015, despite the effects from one consolidating customer which reduced our global sales by $38 million, mostly in North America. The results in our International segment were significantly impacted by the continued strengthening of the U.S. dollar. Foreign exchange reduced our International segment sales by $94 million. In local currency, Brazil declined mid-double digits and Europe had a small decline, but we grew sales in Australia, Asia-Pacific and Mexico for the year. Although Computer Products segment sales decreased, segment profitability improved as a result of the decision to exit commoditized tablet accessory products.
For 2016, our strategy will be consistent with the prior year. We will continue to manage our mature markets for profitable growth while offsetting some secular headwinds with continued market share gains, channel expansion and productivity improvements. We will continue to prudently invest in emerging markets. And we will continue to focus on generating strong cash flow, which we will use to pay down debt and for other shareholder-value creating opportunities such as share repurchase or acquisitions.
We appreciate your feedback and support as we continue to execute well against our strategy and deliver the results you expect as a shareholder.
Sincerely,

Boris Elisman
President and Chief Executive Officer



1