Avery Dennison Corp., a maker of labels and retail tagging systems, posted a stronger-than-expected quarterly profit after lower taxes.
The company also offered a full-year profit forecast that could top expectations.
Net income in the third quarter fell 31% to $58.4 million, or 59 cents a share, compared with $85 million, or 85 cents, a year earlier.
Excluding one-time items, it earned $1 a share. That was 10 cents above what analysts polled by Reuters Estimates forecasted.
However, Bank of America analyst George Staphos said a lower-than-expected tax rate contributed about 8 cents a share to the results.
Sales were up 19% to $1.68 billion, ahead of forecasts for $1.66 billion. However, Avery said excluding acquisitions, divestitures and the effect of the weak U.S. dollar, sales were essentially flat.