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Avery Dennison earnings rise on higher sales, cost cuts

11:48 AM MDT | July 23, 2013 | Vincent Valk

Avery Dennison today reported second-quarter net income up 7% year-on-year (YOY), to $68.8 million, or 68 cts/share, on sales up 3%, to $1.55 billion. Adjusted earnings totaled 71 cts/share, slightly ahead of analysts’ consensus of 70 cts/share, as reported by Thomson Reuters (New York). "I'm pleased to report another quarter of strong earnings growth, driven by restructuring and other productivity actions we initiated last year," says Avery Dennison president and CEO Dean Scarborough. "Pressure-sensitive materials continued to benefit from...

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