In the first half of 2012, the company began a restructuring program expected to be completed by mid-2013 to reduce costs across all segments of the business. The company currently anticipates more than $100 million in annualized savings from this program. To implement these actions, the company estimates that it will incur restructuring costs and other items of approximately $55 million and $25 million in 2012 and 2013, respectively. In the company’s supplemental presentation materials, “Third Quarter 2012 Financial Review and Analysis,” the company provides a list of factors that it believes will contribute to its 2012 financial results. Based on the factors listed and other assumptions, the company raised its previous guidance of 2012 earnings per share from continuing operations to $1.65 to $1.70. The company maintained its free cash flow guidance. Excluding an estimated $0.35 per share for restructuring costs and other items, the company expects adjusted (non-GAAP) earnings per share from continuing operations of $2.00 to $2.05.
Avery Dennison Corporation announced preliminary, unaudited third quarter 2012 results.“In the third quarter, we delivered the strongest organic#
Avery Dennison
marketing@alchempro.com
