Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Avery Dennison Cuts Forecast
Jun 24, 2003
 Printable format
 Email this Article
 Search
Avery Dennison Corp.,, one of the world's largest makers of adhesive labels, cut its quarterly profit outlook because of disappointing sales and higher-than-expected costs. Avery Dennison said it now expects a second-quarter profit of U.S. $0.68 to $0.72 a share, down from its prior outlook of $0.77 to $0.82. The company estimated second-quarter revenue of $1.2 billion to $1.23 billion, up 14 percent to 16 percent from a year earlier. Currency changes are responsible for about half of that growth, it said. Slightly more than half of the profit shortfall results from a sales slump, with weakness spread across the company's various geographic and end markets. Avery Dennison said the remainder of the shortfall comes from higher-than-expected costs for integrating its November acquisition of RVL Packaging Inc., legal expenses tied to a U.S. Justice Department criminal investigation into pricing in the label stock industry, and bad debt. The company said orders, which were weak in April and May, have improved in the last 2 weeks, but it is too early to predict whether its overall business is now on track. (Reuters)

Back to Daily News

 

Daily News

...........................................................

Dec 22, 2014: DOE's Building Technologies Office releases Roadmap for Emerging HVAC Technologies

Dec 19, 2014: Whirlpool Corp. provides guidance for 2015

Dec 19, 2014: Panasonic to showcase built-in appliances at LivingKitchen 2015

Dec 19, 2014: New residential construction in November 2014

Dec 19, 2014: 2014 U.S. steel production up 0.7% from 2013

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: Appliance Magazine Market Insight Annual Subscriptions
November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows