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Q2FY17 sales at RFID solutions supplier Avery Dennison up 2%
29
Jul '16
Courtesy: AveryDennison
Courtesy: AveryDennison
Sales at RFID solutions supplier Avery Dennison, for the three fiscal months ended July 2, 2016 were up 2 per cent year over year to $1.54 billion, while non-GAAP organic sales grew 4 per cent.

Gross profit for the reporting quarter too was higher at $434.1 million, compared with $417.6 million in the corresponding quarter of fiscal 2015-16.

In the quarter under review income from continuing operations was $80.0 million vis-à-vis $64.7 million the same period of earlier fiscal.

Reported EPS for the second quarter of fiscal 2016-17 stood at $0.88 as against $0.69 in the prior fiscal's second quarter.

The company said it also repurchased 2.4 million shares and paid $70 million in dividends in the first half of fiscal 2016-17.

Avery Dennison has revised its 2016-17 earnings per share and now expects it to be between $3.35 and $3.50 and non-GAAP adjusted earnings per share of $3.80 to $3.95. (AR)

Fibre2fashion News Desk - India


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