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Avery Dennison Expects to Exceed Second Quarter Earnings Projections

Press release from the issuing company

PASADENA, Calif.--July 11, 2002--Avery Dennison Corporation today announced that it expects second quarter earnings to be at least $.72 per share, which is higher than its previously announced projection of a range of $.66 per share to $.71 per share, and above the current First Call consensus estimate of $.68 per share. "The improvement in sales growth continued throughout the second quarter following the strong results that began in the final weeks of the first quarter," said Philip M. Neal, chairman and chief executive officer of Avery Dennison. "A more stable pricing environment, combined with ongoing, successful productivity initiatives, have resulted in expanded operating margins."

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