Led by RFID, RBIS segment sales rise 10% at Avery

As indicated above, other specialty converting businesses no longer include the Performance Tapes and RFID businesses.

Sales increased approximately 15 percent due to higher volume.

Operating margin declined 70 basis points to 2.3 percent due to the impact of a prior year gain on sale of a product line, as well as current year costs associated with exiting product lines and restructuring, partially offset by the benefit of higher volume. Adjusted operating margin improved by more than 12 points to 6.4 percent.

Avery Dennison