Avery Dennison Corp. Q1 Profit Decreases, Misses Estimates

(RTTNews) - Avery Dennison Corp. (AVY) revealed a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $166.3 million, or $2.09 per share. This compares with $172.4 million, or $2.13 per share, last year.

Excluding items, Avery Dennison Corp. reported adjusted earnings of $182.6 million or $2.30 per share for the period.

Analysts on average had expected the company to earn $2.31 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 0.1% to $2.148 billion from $2.151 billion last year.

Avery Dennison Corp. earnings at a glance (GAAP) :

-Earnings: $166.3 Mln. vs. $172.4 Mln. last year. -EPS: $2.09 vs. $2.13 last year. -Revenue: $2.148 Bln vs. $2.151 Bln last year.

-Guidance: Next quarter EPS guidance: $2.30 to $2.50