Avery Dennison, Pasadena, CA, USA, reported net income of $112 million or $1.12 per share for the quarter, compared with $89.4 million or $0.89 per share in the prior year. Second quarter 2006 earnings from continuing operations were $96.4 million or $0.96 per share, up 8 percent from $89.6 million or $0.89 per share in the prior year. Net sales for the second quarter were $1.41 billion, approximately even with the same quarter last year.
“We continued to make steady progress in reaching our goals this quarter, and in developing new sources of future top line growth and productivity improvement,” says Scarborough. “We remain committed to the pursuit of a balanced long term strategy to drive both solid sales growth and continued margin expansion.”