Avery Dennison Sees Net Income Rise 19%
- Share via
Avery Dennison Corp., the Pasadena maker of adhesive labels used on packaging, said first-quarter profit jumped 19% as retail-information services sales improved.
Profit rose to $68.7 million, or 69 cents a share, from $57.7 million, or 57 cents, a year earlier. Revenue was nearly flat at $1.34 billion.
The company said its profit grew from better margins and lower expenses, along with a benefit from an anticipated reduction in its tax rate compared with last year.
Avery Dennison’s pressure-sensitive-materials division reported sales of $787 million, flat with the same period last year. Office and consumer product sales decreased 7% to $240 million. Retail information services revenue grew 5% to $165 million.
Shares of Avery Dennison gained 22 cents to $62.10.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
