Avery Dennison Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Avery Dennison Corp. (AVY) revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $172.4 million, or $2.13 per share. This compares with $121.2 million, or $1.49 per share, in last year's first quarter.

Excluding items, Avery Dennison Corp. reported adjusted earnings of $185.1 million or $2.29 per share for the period.

Analysts on average had expected the company to earn $2.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.9% to $2.15 billion from $2.07 billion last year.

Avery Dennison Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $172.4 Mln. vs. $121.2 Mln. last year. -EPS (Q1): $2.13 vs. $1.49 last year. -Revenue (Q1): $2.15 Bln vs. $2.07 Bln last year.

-Guidance: Full year EPS guidance: $9.00 to $9.50