Avery Dennison Provides Financial Update, Income lower than forecasted
Press release from the issuing company
PASADENA, Calif. Sept. 9, 2008 -- Avery Dennison Corporation today provided a financial update. Unaudited preliminary internal reports for the months of July and August, 2008 show consolidated net income per share to be approximately $0.15 - $0.20 below the Company's internal forecast for those months. The shortfall in earnings was primarily due to further economic weakness in the markets which the Company serves. The Company is not currently affirming nor updating its most recent full-year guidance (which was provided on July 22, 2008), and will do so after the close of September when the Company reports its Third Quarter, 2008 results on October 21, 2008.
Avery Dennison is a global leader in pressure-sensitive labeling materials, retail tag, ticketing and branding systems, and office products. Based in Pasadena, Calif., Avery Dennison is a FORTUNE 500 Company with 2007 sales of $6.3 billion. Avery Dennison employs more than 30,000 individuals in over 60 countries, who develop, manufacture and market a wide range of products for both consumer and industrial markets. Products offered by Avery Dennison include: Fasson-brand self-adhesive materials; Avery Dennison brand products for the retail and apparel industries; Avery-brand office products and graphics imaging media; specialty tapes, peel-and-stick postage stamps, and labels for a wide variety of automotive, industrial and durable goods applications.
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.