Avery Dennison Corp. Q4 Profit Decreases, misses estimates

(RTTNews) - Avery Dennison Corp. (AVY) reported a profit for fourth quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $122.9 million, or $1.51 per share. This compares with $182.7 million, or $2.19 per share, in last year's fourth quarter.

Excluding items, Avery Dennison Corp. reported adjusted earnings of $134.7 million or $1.65 per share for the period.

Analysts on average had expected the company to earn $2.05 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.9% to $2.03 billion from $2.18 billion last year.

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

-Earnings (Q4): $122.9 Mln. vs. $182.7 Mln. last year. -EPS (Q4): $1.51 vs. $2.19 last year. -Analyst Estimates: $2.05 -Revenue (Q4): $2.03 Bln vs. $2.18 Bln last year.