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Avery Dennison Corporation (NYSE:AVY) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 10.65%.
Avery Dennison Corporation Earnings Cheat Sheet
Results: Net income increased 221.62% to $71.4 million (54 cents per diluted share) in the quarter versus a net gain of $22.2 million in the year-earlier quarter.
Revenue: Rose 62.47% to $1.53 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Avery Dennison Corporation reported adjusted net income of 54 cents per share. By that measure, the company beat the mean analyst estimate of $0.49. It beat the average revenue estimate of $1.47 billion.
Quoting Management: “Avery Dennison delivered strong earnings improvement in 2012,” said Dean Scarborough, Avery Dennison chairman, president and CEO. “Both Pressure-sensitive Materials and Retail Branding and Information Solutions delivered solid sales growth and expanded margins, and we returned $346 million of cash to shareholders through share repurchases and an increased dividend…
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