Avery Dennison Corp.: The Pasadena-based company reported...
From Times Staff and Wire Reports
Avery Dennison Corp.: The Pasadena-based company reported a fourth-quarter loss of $45.6 million on revenue of $672.1 million, contrasting with a net income of $27.5 million on revenue of $647.9 million in the quarter ended Nov. 30, 1989. The results were affected by a onetime charge of $85.2 million taken to restructure costs and a change in Avery’s year-end to Dec. 31. Annual earnings fell 95% to $5.9 million, while revenue increased 4% to $2.6 billion. The manufacturer of adhesives, labels and office products also reported expenses of $13.8 million related to its merger with Dennison Manufacturing Co.
