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Avery Dennison reports increase in net sales

1:01 PM MDT | April 24, 2013 | Lindsay Frost

Avery Dennison reports first quarter results in line with expectations—partially because of benefits from its restructuring program. Net income grew 32% year-on-year (YOY), to $57.8 million, on sales up 4%, to $1.5 billion YOY, thanks to double-digit sales growth in its pressure-sensitive materials segment. Adjusted earnings per share, which exclude discontinued operations, were at 59 cts/share—slightly above analyst estimates of 58 cts/share, according to Thomson Reuters (New York). Sales for its pressure-sensitive materials segment increased 3%, to...

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