The division’s sales for the most recent quarter were put at $107.8 million, down slightly from sales of $115.9 million in the same quarter last year, Richmond, Va.-based MeadWestvaco said.
The results are unaudited, preliminary and may change, MeadWestvaco said. The company said its regular quarterly conference call will be April 25.
ACCO also released its own preliminary sales and income results for the first quarter, saying it saw $11.9 million in adjusted operating income for the quarter.
Tucker McNeil, a MeadWestvaco spokesman, said the preliminary earnings were released to help arrange financing for Lincolnshire, Ill.-based ACCO as it acquires MeadWestvaco’s Consumer & Office Products business.
Asked if the losses mean there may have to be job cuts or structural changes at the Consumer & Office Products business, ACCO spokesman Rich Nelson said, “It’s too early to really comment on that, but I can’t imagine that to be the case.”
McNeil cautioned that the first quarter is typically a weak one for consumer and office products. Strong school supply sales typically buttress sales from August to December, he said. The division produces school and office products as well as home products like calendars.
Last November, MeadWestvaco and ACCO Brands announced the proposed merger. MeadWestvaco is a corporate descendant of Mead, which was once based in Dayton.
Contact this reporter at (937) 225-2390 or tgnau@DaytonDailyNews.com.
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