Avery Dennison Corp. Q3 Profit Drops, Inline With Estimates

(RTTNews) - Avery Dennison Corp. (AVY) announced a profit for third quarter that decreased from the same period last year in line with the Street estimates.

The company's earnings totaled $138.3 million, or $1.71 per share. This compares with $221.5 million, or $2.70 per share, in last year's third quarter.

Excluding items, Avery Dennison Corp. reported adjusted earnings of $170.1 million or $2.10 per share for the period.

Analysts on average had expected the company to earn $2.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.5% to $2.10 billion from $2.32 billion last year.

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

-Earnings (Q3): $138.3 Mln. vs. $221.5 Mln. last year. -EPS (Q3): $1.71 vs. $2.70 last year. -Analyst Estimates: $2.10 -Revenue (Q3): $2.10 Bln vs. $2.32 Bln last year.

-Guidance: Next quarter EPS guidance: $2.10 to $2.25