S&P 500 (NYSE:SPY) component Avery Dennison Corporation (NYSE:AVY) appear a lower net assets in aboriginal quarter, missing analysts’ estimates. Avery Dennison Corp. is a all-around architect of pressure-sensitive materials, appointment articles and a array of cardboard products. It provides businesses and consumers with identification solutions and adapted products, such as tickets, tags and labels. .
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Avery Dennison Earnings Cheat Sheet for the Aboriginal Quarter
Results: Net assets for the cardboard aggregation fell to $44.8 actor (42 cents/share) vs. $54.7 actor (51 cents/share) a year earlier. A abatement of 18.1% from the year beforehand quarter.
Revenue: Rose 6.7% to $1.66 billion YoY.
Actual vs. Wall St. Expectations: AVY fell abbreviate of the beggarly analyst appraisal of 47 cents/share. Estimates ranged from 43 cents per allotment to 50 cents per share.
Quoting Management: “Avery Dennison delivered solid sales advance in the aboriginal quarter, with able performances by Pressure-sensitive Abstracts and Retail Branding and Information Solutions,” said Dean A. Scarborough, Avery Dennison chairman, admiral and CEO.
Key Stats: Over the aftermost bristles quarters, acquirement has added 8.9% on boilerplate year over year. The better access came in the additional division of the aftermost budgetary year, back acquirement rose 15.4% from the year beforehand quarter.
Companies to Watch: Intertape Polymer Group (ITP), MeadWestvaco Corp. (NYSE:MWV), Smurfit-Stone Container Corp. (NYSE:SSCC), Bemis Company, Inc. (NYSE:BMS), Verso Cardboard Corp. (NYSE:VRS), ACCO Brands Corporation (NYSE:ABD), Impreso, Inc. (ZCOM), PT Ekadharma Intl. Tbk (EKAD), Appointment Depot (NYSE:ODP), Target (NYSE:TGT), OfficeMax (NYSE:OMX), Staples (NASDAQ:SPLS) and Union Advanced Industries Co. PLC (UADI).
Today’s Performance: Shares of AVY are trading at $42.26 as of April 27, 2011 at 10:12 AM ET, bottomward from the antecedent close.
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