June 24, 2003 |
The stock of Avery Dennison Corp. fell 9% on Monday after the Pasadena-based label maker lowered its guidance for the second quarter because of slower sales, higher costs and legal expenses associated with the Justice Department's probe of the adhesives industry. The company, which makes office products and labels including self-adhesive stamps for the U.S. Postal Service, said earnings would probably be 68 cents to 72 cents a share, down from a previously expected 77 cents to 82 cents.
April 17, 2003 |
Executives of Avery Dennison Corp. said Wednesday that it was the unnamed company accused in a federal antitrust lawsuit of working with a smaller rival "to limit competition" in the label-making industry. The lawsuit, filed by the Justice Department on Tuesday in federal court in Chicago, seeks to block the union of two of Avery's biggest competitors in the market for unfinished adhesive labels, known as label stock.
April 15, 2003 |
Avery Dennison Corp. said late Monday that it probably would receive a subpoena in connection with a criminal investigation into "competitive practices in the label stock industry." The Pasadena-based manufacturer of self-adhesive labels and office products said it "expects to" cooperate fully with the inquiry by the Justice Department. The company didn't elaborate on the nature of the criminal probe.
January 29, 2003 |
Avery Dennison Corp., the maker of self-adhesive postage stamps and labels for hundreds of mundane products, reported Tuesday that it crossed the $4-billion mark in sales last year. Now, to keep the growth going, the Pasadena-based company is envisioning a whole new generation of labels that do a lot more than just stick. Avery technicians are creating a tag that could be attached to plastic bags to tell when meat has spoiled.
May 18, 2002 |
Avery Dennison Corp., which makes Hi-Liter markers and sticky labels, plans to cut about 800 to 1,000 jobs over two years after the purchase of Jackstadt of Germany for about $295million in cash and debt. The reductions, about 5% of the companies' combined work force of 19,000, will be at both Avery Dennison and Jackstadt. The acquisition of Jackstadt, the world's largest closely held maker of self-adhesive materials, was completed Friday.
September 30, 2001 |
Zhang Jiazhen, director of Shanghai People's Printing Factory No. 8, already had laid off 400 people, one-third of his payroll, and spent $20 million upgrading his 68-year-old factory, the city's third-largest. Despite the actions, unusual in China, Zhang found himself facing a manager's dilemma of too little cash and expertise to prepare for China's entry into the World Trade Organization. So he turned to a Western company, Avery Dennison Corp.
June 21, 2001 |
Avery Dennison Corp. said it plans to fire 450 employees, or 2.5% of its work force, and lowered its second-quarter profit forecast. The Pasadena-based office products maker said it expects to earn 60 cents to 64 cents a share for the quarter ending June 30. Earlier the company said it would earn 68 cents to 72 cents. Analysts had expected it to earn 70 cents.
April 25, 2001 |
Adhesive product and label maker Avery Dennison Corp. on Tuesday said its first-quarter earnings fell more than 9% from a year ago as the slower North American economy and weakness in some European specialty markets hurt short-term growth. The Pasadena-based company said its net income fell to $63.6 million, or 65 cents a share, from $70.2 million, or 70 cents, a year ago. Sales slipped slightly to $963.2 million from $965.3 million last year.
January 24, 2001 |
Adhesive products maker Avery Dennison Corp. said Tuesday that fourth-quarter earnings rose slightly, exceeding Wall Street's lowered expectations, despite a fall in revenue. The Pasadena company said net income was $67.5 million, or 69 cents per diluted share, compared with $67.3 million, or 67 cents, a year earlier. Analysts on average had expected 67 cents, according to data tracking firm First Call/ Thomson Financial. Avery Dennison said sales fell 1.2% to $933.1 million from $944.8 million.