ACCO Brands has reported its fourth quarter and full year results for the period ended December 31, 2009, showing a return to profitability.

ACCO said it expects 2010 to continue to be challenging due to uncertainty around consumer and business spending, particularly in higher-margin durable products.

“While 2009 was an extremely challenging year, ACCO Brands met the challenge with aggressive actions that should enable us to return to profitable growth in 2010,” said Robert J. Keller, chairman and chief executive officer.

 “We reestablished strong relationships with our key customers, improved our customer service levels, reenergized our new product development activities, captured market share across our major geographies, penetrated new channels, and refinanced the business, providing a firm financial foundation from which to build. ACCO Brands is a very different company today, with the ability to deliver bottom line improvement even under challenging market conditions.”

For the fourth quarter, the company reported net income of $1 million, or 2 cents a share, compared with a loss of $258 million, or $4.76 a share, a year ago. Excluding items, it earned 21 cents a share.