IHS Chemical Week

Markets :: Specialty Chemicals :: Adhesives and sealants

Avery Dennison Misses Estimates, Lowers Outlook

9:55 AM MDT | October 26, 2011 | Rebecca Coons

Weak demand continued to impact Avery Dennison’s operating results, sending third-quarter volumes lower across all the company’s segments and in most regions. The company lowered its full-year guidance for the second time this year, and announced it will boost restructuring efforts to further reduce costs. Net income of $49.8 million for the fiscal third quarter ended September 30 was 22% lower than the same year-ago quarter, while earnings of 47 cts/share fell short of analysts’ consensus of 58 cts/share, as reported by Thomson Reuters (New...

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