Conditions in the Company's markets have deteriorated more than expected since the Company issued guidance on October 21, 2008, resulting in lower-than-expected sales volume in the fourth quarter.
Lower revenue, coupled with expenses associated with the Company's cost-reduction initiatives, are now expected to result in lower operating profits than previously indicated. A possible one-time tax benefit may result in earnings per share in line with previous guidance.
Avery Dennison is a global leader in pressure-sensitive labeling materials, retail tag, ticketing and branding systems, and office products. Based in Pasadena, Calif., Avery Dennison is a FORTUNE 500 Company with 2007 sales of $6.3 billion. Avery Dennison employs more than 30,000 individuals in over 60 countries, who develop, manufacture and market a wide range of products for both consumer and industrial markets.
Products offered by Avery Dennison include: Fasson-brand self-adhesive materials; Avery Dennison brand products for the retail and apparel industries; Avery-brand office products and graphics imaging media; specialty tapes, peel-and-stick postage stamps, and labels for a wide variety of automotive, industrial and durable goods applications.
Avery Dennison Corporation
marketing@alchempro.com
