Acco Brands has reported a first quarter net loss of $7.0 million compared to a loss of $1.8 million in the same quarter of last year, but reported improvements in customer orders in February and March.

Net sales decreased 27%, to $293.4 million from $400.0 million in the prior-year quarter. The first quarter results include restructuring and non-recurring costs totalling $3.4 million.

"Despite the continuing challenging sales environment that impacted all of our businesses in all geographies, Acco Brands was able to effectively reduce costs and grow operating margins in the quarter,” said Robert J. Keller, chairman and chief executive officer. “Moreover, during the quarter we won new business from several key customers that should benefit us in future quarters.”

In its outlook for 2009, Acco said that “given the volatile nature of current economic conditions, the company believes there is not sufficient visibility to set expectations for the performance of the business at this time and therefore will not provide specific sales or earnings guidance for 2009.”