Avery Dennison Corp. Q3 Profit Increases, Inline With Estimates

(RTTNews) - Avery Dennison Corp. (AVY) released a profit for its third quarter that increased from the same period last year in line with the Street estimates.

The company's bottom line came in at $221.5 million, or $2.70 per share. This compares with $164.1 million, or $1.96 per share, in last year's third quarter.

Excluding items, Avery Dennison Corp. reported adjusted earnings of $201.5M or $2.46 per share for the period.

Analysts on average had expected the company to earn $2.46 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.1% to $2.32 billion from $2.07 billion last year.

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

-Earnings (Q3): $221.5 Mln. vs. $164.1 Mln. last year. -EPS (Q3): $2.70 vs. $1.96 last year. -Analyst Estimate: $2.46 -Revenue (Q3): $2.32 Bln vs. $2.07 Bln last year.

-Guidance: Full year EPS guidance: $9.70 to $9.85