Avery Dennison Corp

Office supplies maker Avery Dennison Corp. said Thursday that it would buy clothing label maker Paxar Corp. for $1.3 billion in a bid to expand in the fragmented retail information and brand identification market. The deal values White Plains, N.Y.-based Paxar at $30.50 a share, a 27% premium over its closing share price Thursday of $24.03.

Office supplies maker Avery Dennison Corp. posted a lower-than-expected quarterly profit and cut its outlook for the year because of a weak pricing environment. Avery also said it expected cost savings from its June acquisition of Paxar Corp. to be higher and realized sooner than initially expected. Second-quarter profit fell about 23% to $85.8 million, or 87 cents a share, from $112 million, or $1.12, a year earlier. Excluding one-time items, Avery earned $1.

Avery Dennison Corp., the world's biggest label maker, had a fourth-quarter loss after restructuring and divestiture-related expenses and said it would cut 80 to 100 more jobs. The net loss was $6.9 million, or 7 cents a share, contrasted with net income of $83.6 million, or 83 cents, a year earlier. Sales fell 4% to $1.36 billion, the company said. Without the costs, the Pasadena-based company said earnings per share were 92 cents as a result of a lower tax rate and reduced operating expenses.

Avery Dennison Corp., the Pasadena maker of adhesive labels used on packaging, said first-quarter profit jumped 19% as retail-information services sales improved. Profit rose to $68.7 million, or 69 cents a share, from $57.7 million, or 57 cents, a year earlier. Revenue was nearly flat at $1.34 billion. The company said its profit grew from better margins and lower expenses, along with a benefit from an anticipated reduction in its tax rate compared with last year.

Avery Dennison Corp. said Tuesday that its earnings jumped 41% in the fourth quarter, aided by an extra week of sales and a buying binge by customers eager to beat a Jan. 1 price increase. The Pasadena label-making company topped analysts' expectations, posting net income of $83.6 million, or 83 cents a share, compared with $59.3 million, or 59 cents, a year earlier. Analysts had forecast a per-share profit of 77 cents, according to Thomson First Call. Sales rose 17% to $1.4 billion.

Avery Dennison Corp., the world's biggest maker of labels, claims a Taiwanese company that lost an $80-million verdict in 2000 has been doing business through "sham intermediaries" in a bid to avoid paying the judgment. Four Pillars Enterprise Co., which was ordered by an Ohio jury to pay for stealing trade secrets from Pasadena- based Avery Dennison, ceased operations in the U.S. under its own name in an attempt to circumvent laws, the lawsuit said.

Avery Dennison Corp. said its board had elected Kent Kresa nonexecutive chairman, effective immediately. Kresa, former chairman and chief executive of Northrop Grumman Corp., has served on the Avery Dennison board since 1999. The Pasadena-based supplier of office products said Philip Neal, chairman and former chief executive, was retiring from the company and its board.

Avery Dennison Corp., the world's biggest label maker, said Wednesday that it planned to cut 700 to 900 jobs, significantly more than the company predicted in October. The company, which initially said the layoffs would cost $20 million to $30 million, now says the cuts will cost $50 million to $65 million. Most of those costs will be for severance pay and related termination expenses, company spokesman Charles Coleman said. Avery Dennison said Oct.

Label maker Avery Dennison Corp. said Tuesday that its fourth-quarter earnings rose 7%, aided by cost cutting and increased foreign sales, pushing its stock to a 52-week high. The Pasadena-based company, which commands about half of the labeling market, posted a profit of $59.3 million, or 59 cents a share, compared with $55.5 million, or 56 cents, a year earlier. Avery Dennison's fourth-quarter sales rose 13%, to $1.23 billion from $1.

Inside a nondescript, low-rise office building across the street from a gravel pit in Irwindale, a scientist in a white lab coat is making a high-tech trip to the grocery store. In his basket are familiar items: Total cereal, white-corn taco shells, facial tissue, Triscuits. But he doesn't go through a typical checkout process. As he carries his basket past black scanners that look like flat stereo speakers, the bill appears on a nearby computer screen, detailing the cost of each item.