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Sales at Avery Dennison expand 7% in Q4
Feb '17
In its preliminary results released for the three months ended December 31, 2016, net sales at RFID manufacturer Avery Dennison expanded 7 per cent year on year to $1.55 billion, while also achieving non GAAP organic sales growth of 5 per cent. During the fourth quarter of 2016, reported EPS was $0.69, while adjusted EPS, a non GAAP measure was $0.99.

For the full year, the company recorded net sales at $6.09 billion, up 2 per cent, over a year ago period and non GAAP organic sales growth of 4 per cent.

In 2016, Avery Dennison expects a reported EPS of between $4.10 and $4.30 and adjusted EPS of between $4.30 and $4.50

“I am pleased to report another year of progress toward our long-term goals,” CEO Mitch Butier said. “We drove strong organic sales growth and margin expansion through our strategy to accelerate growth in high value categories and disciplined execution in our base businesses. (AR)

Fibre2Fashion News Desk – India

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