Avery Dennison Corp. Reveals 7% Drop In Q4 Bottom Line

(RTTNews) - Avery Dennison Corp. (AVY) reported earnings for fourth quarter that dropped compared to the same period last year.

The company said its earnings fell to $78.3 million, or $0.85 per share. This was down from $83.8 million, or $0.90 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.78 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 9.4% to $1.45 billion. This was down from $1.60 billion last year.

Avery Dennison Corp. earnings at a glance:

-Earnings (Q4): $78.3 Mln. vs. $83.8 Mln. last year. -Earnings Decline (Y-o-Y): -6.6% -EPS (Q4): $0.85 vs. $0.90 last year. -EPS Decline (Y-o-Y): -5.6% -Analysts Estimate: $0.78 -Revenue (Q4): $1.45 Bln vs. $1.60 Bln last year. -Revenue Change (Y-o-Y): -9.4%