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Avery Dennison second-quarter earnings projections

US manufacturer of adhesive products and labels, Avery Dennison Corp. raised its second quarter earnings estimate to at least 72 cents a share, as sales growth continued throughout the quarter. In Apr…

US manufacturer of adhesive products and labels, Avery Dennison Corp. raised its second quarter earnings estimate to at least 72 cents a share, as sales growth continued throughout the quarter. In April, Avery Dennison said it expected second quarter earnings of 66 cents to 71 cents a share. In a press release on 11 July, the company said “a more stable pricing environment, combined with ongoing, successful productivity initiatives, have resulted in expanded operating margins” for the second quarter. A Thomson First Call survey of seven analysts produced a mean earnings estimate of 68 cents a share for the company“s second quarter. The company earned US$ 59.8 million, or 61 cents a share, on sales of US$ 960.8 million for its second quarter ended 30 June 2001.

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