Flexible Electronics News

Avery Dennison Announces 2Q 2017 Results

Net sales in 2Q 2017 increased 6% to $1.63 billion.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World

Avery Dennison Corporation announced preliminary, unaudited results for its second quarter ended July 1, 2017. Net sales for ther second quarter of 2017 increased approximately 6% to $1.63 billion.
 
“We continued to make good progress against our strategic and financial objectives in the second quarter,” said Mitch Butier, Avery Dennison president and CEO. “LGM generated strong profitability despite a short-term moderation in organic growth; RBIS had a great quarter, with accelerated sales growth and margin expansion as our multi-year transformation delivers; and IHM continues to make progress against its strategic priorities, including the completion of two acquisitions.”
Label and Graphic Materials’ (LGM) reported sales increased 5.5%; operating margin improved 20 basis points to 13.2%.
 
Retail Branding and Information Solutions’ (RBIS) sales increased 4.6%; on an organic basis, sales grew an estimated 5.8%, driven by strength in RFID and the base business. Operating margin improved 110 basis points to 7.5%.
 
Industrial and Healthcare Materials’ (IHM) sales increased 8.7%. Operating margin declined 580 basis points to 8.5%.

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