02.01.18
Avery Dennison announced preliminary, unaudited results for its fourth quarter and year ended Dec. 30, 2017.
Fourth quarter net sales increased 11.9% to $1.74 billion, with sales change increase excluding currency (non-GAAP) of 9.1%, and organic sales change (non-GAAP) of 4.7%. Reported EPS was ($0.66), with adjusted EPS (non-GAAP) of $1.33.
Full year 2017 net sales increased 8.7% to $6.61 billion, with organic sales change of 4.2%. Full year 2017 reported EPS was $3.13, with adjusted EPS of $5.00.
“2017 marked the company’s sixth consecutive year of strong top-line growth, margin expansion, and double-digit adjusted EPS growth,” said Mitch Butier, president and CEO. “Strong top-line performance in 2017 reflected a balance of contributions from acquisitions and organic growth, driven by our focus on faster-growing high value categories and large presence in emerging markets.
“Label and Graphic Materials delivered another year of strong growth and continued margin expansion. Retail Branding and Information Solutions’ operating income rose significantly, reflecting outstanding performance in terms of both top-line growth and margin expansion. And we expanded the platform for Industrial and Healthcare Materials, through both acquisitions and a return to solid organic growth in the back half of the year.
“In 2018, we expect to once again deliver a strong top-line and double-digit EPS growth, while further increasing our level of investment for the future,” said Butier.
Label and Graphic Materials’ sales increased 9.2%. Sales excluding currency increased 5.6%; on an organic basis, sales grew 4.6%. Reported operating margin increased 60 basis points to 11.9%.
Retail Branding and Information Solutions’ sales increased 5.2%; on an organic basis, sales grew 4.7% driven by strength in both RFID and the base business. Reported operating margin increased 150 basis points to 10.8%.
Industrial and Healthcare Materials’ sales increased 60.3%. Sales excluding currency increased 56.9%; on an organic basis, sales grew 5.7%. Operating margin declined 160 basis points to 7.2%.
Fourth quarter net sales increased 11.9% to $1.74 billion, with sales change increase excluding currency (non-GAAP) of 9.1%, and organic sales change (non-GAAP) of 4.7%. Reported EPS was ($0.66), with adjusted EPS (non-GAAP) of $1.33.
Full year 2017 net sales increased 8.7% to $6.61 billion, with organic sales change of 4.2%. Full year 2017 reported EPS was $3.13, with adjusted EPS of $5.00.
“2017 marked the company’s sixth consecutive year of strong top-line growth, margin expansion, and double-digit adjusted EPS growth,” said Mitch Butier, president and CEO. “Strong top-line performance in 2017 reflected a balance of contributions from acquisitions and organic growth, driven by our focus on faster-growing high value categories and large presence in emerging markets.
“Label and Graphic Materials delivered another year of strong growth and continued margin expansion. Retail Branding and Information Solutions’ operating income rose significantly, reflecting outstanding performance in terms of both top-line growth and margin expansion. And we expanded the platform for Industrial and Healthcare Materials, through both acquisitions and a return to solid organic growth in the back half of the year.
“In 2018, we expect to once again deliver a strong top-line and double-digit EPS growth, while further increasing our level of investment for the future,” said Butier.
Label and Graphic Materials’ sales increased 9.2%. Sales excluding currency increased 5.6%; on an organic basis, sales grew 4.6%. Reported operating margin increased 60 basis points to 11.9%.
Retail Branding and Information Solutions’ sales increased 5.2%; on an organic basis, sales grew 4.7% driven by strength in both RFID and the base business. Reported operating margin increased 150 basis points to 10.8%.
Industrial and Healthcare Materials’ sales increased 60.3%. Sales excluding currency increased 56.9%; on an organic basis, sales grew 5.7%. Operating margin declined 160 basis points to 7.2%.
