Avery Dennison Corp. Q4 Profit Decreases, but beats estimates

(RTTNews) - Avery Dennison Corp. (AVY) released earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $182.7 million, or $2.19 per share. This compares with $191.5 million, or $2.28 per share, in last year's fourth quarter.

Excluding items, Avery Dennison Corp. reported adjusted earnings of $178.4 million or $2.13 per share for the period.

Analysts on average had expected the company to earn $2.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.5% to $2.18 billion from $1.99 billion last year.

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

-Earnings (Q4): $182.7 Mln. vs. $191.5 Mln. last year. -EPS (Q4): $2.19 vs. $2.28 last year. -Analyst Estimates: $2.12 -Revenue (Q4): $2.18 Bln vs. $1.99 Bln last year.