Avery Dennison Corp. Q4 Profit Increases, but misses estimates

(RTTNews) - Avery Dennison Corp. (AVY) announced earnings for its fourth quarter that increased from the same period last year but missed the Street estimates.

The company's earnings totaled $143.1 million, or $1.77 per share. This compares with $122.9 million, or $1.51 per share, in last year's fourth quarter.

Excluding items, Avery Dennison Corp. reported adjusted earnings of $174.6 million or $2.16 per share for the period.

Analysts on average had expected the company to earn $2.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.9% to $2.11 billion from $2.03 billion last year.

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

-Earnings (Q4): $143.1 Mln. vs. $122.9 Mln. last year. -EPS (Q4): $1.77 vs. $1.51 last year. -Analyst Estimate: $2.17 -Revenue (Q4): $2.11 Bln vs. $2.03 Bln last year.