Avery Dennison Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - Avery Dennison Corp. (AVY) reported a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $198.2 million, or $2.39 per share. This compares with $209.5 million, or $2.50 per share, in last year's first quarter.

Excluding items, Avery Dennison Corp. reported adjusted earnings of $199.5 million or $2.40 per share for the period.

Analysts on average had expected the company to earn $2.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.6% to $2.35 billion from $2.05 billion last year.

Avery Dennison Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $198.2 Mln. vs. $209.5 Mln. last year. -EPS (Q1): $2.39 vs. $2.50 last year. -Analyst Estimates: $2.17 -Revenue (Q1): $2.35 Bln vs. $2.05 Bln last year.

-Guidance: Full year EPS guidance: Adj; $9.45 to $9.85