Avery Dennison provides update on long-term Biz plans

05 Mar '08

3 min read

"The key variables for the balance of the year include economic conditions and their impact on apparel orders and the office products' back-to-school season; our ability to realize price increases; and the price of raw materials," he added. "We have upside on both the tax rate and interest expense relative to our guidance, so we do remain committed to delivering earnings and free cash flow within our guidance range for the year."

Scarborough was joined in the presentation by Daniel R. O'Bryant, executive vice president, Finance, and chief financial officer, and Terrence L. Hemmelgarn, group vice president, Retail Information Services. In the presentation, they outlined the Company's top priorities, including:

• Capturing the synergies from the Paxar integration and delivering on the growth potential of Retail Information Services
• Accelerating productivity and driving growth for pressure-sensitive materials through emerging market expansion and new application development
• Renovating core products in the Office and Consumer segment
• Accelerating Enterprise Lean Sigma (ELS) to drive operational excellence
• Delivering significantly higher cash flow.

"We expect our initiatives for sales and productivity improvement to drive double-digit earnings growth and significant increases in free cash flow, which should result in above-average value creation for our shareholders," Scarborough said.

Avery Dennison Corporation

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