Avery Dennison: 2Q Earnings Snapshot
GLENDALE, Calif. (AP) _ Avery Dennison Corp. (AVY) on Tuesday reported second-quarter net income of $95.6 million.
The Glendale, California-based company said it had net income of $1.07 per share. Earnings, adjusted for one-time gains and costs, were $1.66 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share.
The maker of office products posted revenue of $1.85 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $1.81 billion.
Avery Dennison expects full-year earnings in the range of $5.95 to $6.10 per share.
Avery Dennison shares have decreased 10 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 5 percent. The stock has climbed almost 10 percent in the last 12 months.