February 2, 2011
Avery Dennison Corp., a maker of adhesives for everything from beverage labels to apparel tags and road signs, said on Wednesday its fourth-quarter profit more than doubled on sales gains at its two biggest business segments. The Pasadena-based company also said its board raised the quarterly dividend by 25 percent, and authorized additional share repurchases. For the three months ended Jan. 1, Avery Dennison reported net income of $114.2 million, or $1.06 per share, compared with a profit of $49.9 million, or 47 cents per share, in the same quarter a year ago. Excluding items such as restructuring and asset impairment charges, Avery Dennison reported a profit of $105.
July 29, 2009 |
Pasadena label maker Avery Dennison Corp. agreed to pay a $200,000 fine over charges that employees bribed Chinese government officials with kickbacks, sightseeing trips and gifts, the Securities and Exchange Commission said. As part of the settlement, the SEC said Tuesday, Avery neither admitted nor denied any wrongdoing.
January 12, 2009 |
When Pasadena-based Avery Dennison wanted to build its road and traffic business in China a few years ago, it hired people like Lily Tang. The Beijing homemaker had an asset the company craved: political connections. Tang's husband, Chen Qi, is a senior official at the China Communications and Transportation Assn., a quasi-governmental group led by former ministers.
CALIFORNIA | LOCAL
November 6, 2008 |
Philip M. Neal, the retired chairman and chief executive of Avery Dennison Corp. who was instrumental in driving the strategic focus of the Pasadena firm, has died. He was 68. Neal died of heart failure Oct. 29 at his home in Manhattan Beach, the company announced.
October 22, 2008 |
Avery Dennison Corp., which makes packaging and consumer products, said its third-quarter earnings rose 7% as stronger sales offset higher expenses and weaker profit margins. Net income for the three months ended Sept. 27 climbed to $62.7 million, or 63 cents a share, compared with $58.8 million, or 59 cents, a year earlier. Excluding one-time items, the Pasadena company earned 81 cents a share compared with an adjusted $1.01 a share in the third quarter of last year. Analysts polled by Thomson Reuters expected, on average, earnings per share of 74 cents.
July 23, 2008 |
Adhesive label maker Avery Dennison Corp. said its second-quarter profit rose 7% as an acquisition helped double sales in its retail information systems segment. Net income for the three months ended June 28 rose to $92.4 million, or 93 cents a share, compared with $86.2 million, or 87 cents, a year earlier. Excluding one-time items, the company had adjusted earnings of $1.03 a share, up from $1.01 a year earlier. Analysts polled by Thomson Financial expected earnings of $1 a share.
March 5, 2008 |
Avery Dennison Corp.'s first-quarter earnings will probably represent less than 20% of the label maker's profit for the year, Chief Executive Dean Scarborough said. Price increases and cost reductions will probably produce more benefits in the second half of the year, Avery Dennison said. "The weak business conditions we saw in the fourth quarter have generally continued," Scarborough said in the statement, which included comments he made at a meeting of analysts and investors in New York.
January 30, 2008 |
Adhesive label maker Avery Dennison Corp. said fiscal fourth-quarter profit slid 24% on restructuring charges and costs related to its Paxar Corp. acquisition, but adjusted results topped analyst estimates. For the period ended Dec. 29, net income fell to $79.4 million, or 81 cents a share, from $104.7 million, or $1.04, a year earlier. Excluding 27 cents a share in restructuring charges and Paxar-related costs, profit was $1.08 a share at the Pasadena-based company. Analysts surveyed by Thomson Financial expected fourth-quarter net income of 96 cents a share.