Avery Dennison (AVY) Sees Lower-Than-Expected Q4 Results
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Avery Dennison Corporation (NYSE: AVY) today provided a financial update.
Conditions in the Company's markets have deteriorated more than expected since the Company issued guidance on October 21, 2008, resulting in lower-than-expected sales volume in Q4. Lower revenue, coupled with expenses associated with the Company's cost-reduction initiatives, are now expected to result in lower operating profits than previously indicated. A possible one-time tax benefit may result in EPS in line with previous guidance.
Avery Dennison Corporation produces pressure-sensitive materials, office products, tickets, tags, labels, and other converted products.
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