Avery Dennison Q1 Adj. EPS Tops View; Lifts FY15 Adj. EPS Outlook - Quick Facts

(RTTNews) - Avery Dennison Corp. (AVY) reported first-quarter net income of $71.6 million or $0.77 per share, compared to $71.2 million or $0.73 per share in the prior year period.

Adjusted earnings per share from continuing operations was $0.81, up from $0.65 per share in the comparable quarter last year. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.69 for the quarter. Analysts' estimates typically exclude special items.

Net sales declined to $1.53 billion from $1.55 billion last year, while five analysts expected revenue of $1.48 billion for the quarter.

The company lowered its 2015 earnings per share to a range of $2.85 to $3.05, from its previous range of $2.95 to $3.15 per share.

The company increased its adjusted earnings per share to a range of $3.25 to $3.45 from its prior range of $3.20 to $3.40. Analysts expect the company to report 2015 earnings per share of $3.25.