More on ACCO Brands Q4

• ACCO Brands (NYSE:NYSE:ACCO) reports net sales declined 5% on a constant currency basis in Q4.
• North America sales fell 6% to $253.5M (-5% on a constant currency basis).
• ACCO Brands International sales dropped 9% to $170.6M (-1% on a constant currency basis).
• Computer Products sales decreased 22% to $35.8M (-18% on a constant currency basis).
• Gross margin rate increased 35 bps to 34.12%.
• Adjusted operating margin rate remained flat at 15.7%.
• FY2015 Guidance: Net sales: to decline in the mid-single digits (before currency impact) &  to decline in the high-single or low-double digits (after currency impact); Adjusted EPS: $0.78 to $0.82 (before currency impact) & $0.70 to $0.74 (after currency impact); Free cash flow: ~$140M.