MENTOR, Ohio (AP) — MENTOR, Ohio (AP) — Avery Dennison Corp. (AVY) on Wednesday reported fourth-quarter net income of $166.4 million.
The Mentor, Ohio-based company said it had profit of $2.15 per share. Earnings, adjusted for one-time gains and costs, came to $2.45 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.40 per share.
The maker of office products posted revenue of $2.27 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $2.29 billion.
For the year, the company reported profit of $688 million, or $8.79 per share. Revenue was reported as $8.86 billion.
For the current quarter ending in March, Avery Dennison expects its per-share earnings to range from $2.40 to $2.46.
Avery Dennison shares have risen almost 3% since the beginning of the year, while the S&P’s 500 index has risen 1%. The stock has climbed roughly 2% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVY at https://www.zacks.com/ap/AVY
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