AVERY DENNISON CORPORATION (NYSE:AVY) Files An 8-K Results of Operations and Financial Condition

ME Staff 8-k

7 years ago

AVERY DENNISON CORPORATION (NYSE:AVY) Files An 8-K Results of Operations and Financial ConditionItem 2.02 Results of Operations and Financial Condition.

Avery Dennison Corporation’s (the “Company’s”) press release, dated July25, 2017, regarding the Company’s preliminary, unaudited financial results for second quarter 2017 and updated guidance for the 2017 fiscal year, is attached hereto as Exhibit99.1 and is being furnished (not filed) with this Form8-K.

The Company’s supplemental presentation materials, dated July 25, 2017, regarding the Company’s preliminary, unaudited financial review and analysis for second quarter 2017 and updated guidance for the 2017 fiscal year, is attached hereto as Exhibit99.2 and is being furnished (not filed) with this Form8-K. The press release and presentation materials are also available on the Company’s website at www.investors.averydennison.com.

The Company will discuss its preliminary, unaudited financial results during a webcast and teleconference today, July 25, 2017, at 12:00 p.m.ET. To access the webcast and teleconference, please go to the Company’s website at www.investors.averydennison.com.

Section9 – Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press release, dated July 25, 2017, regarding the Company’s preliminary, unaudited second quarter 2017 financial results.

99.2 Supplemental presentation materials, dated July25, 2017, regarding the Company’s preliminary, unaudited financial review and analysis for second quarter 2017.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995

Certain statements contained in this report on Form8-K and in Exhibits 99.1 and 99.2 are forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements, and financial or other business targets, are subject to certain risks and uncertainties. Actual results and trends may differ materially from historical or anticipated results depending on a variety of factors, including but are not limited to, risks and uncertainties relating to the following: fluctuations in demand affecting sales to customers; worldwide and local economic conditions; changes in political conditions; changes in governmental laws and regulations; fluctuations in currency exchange rates and other risks associated with foreign operations, including in emerging markets; the financial condition and inventory strategies of customers; changes in customer preferences; fluctuations in cost and availability of raw materials; the Company’s ability to generate sustained productivity improvement; the Company’s ability to achieve and sustain targeted cost reductions; the impact of competitive products and pricing; loss of significant contracts or customers; collection of receivables from customers; selling prices; business mix shift; execution and integration of acquisitions and completion of potential dispositions; timely development and market acceptance of new products, including sustainable or sustainably-sourced products; investment in development activities and new production facilities; amounts of future dividends and share repurchases; customer and supplier concentrations; successful implementation of new manufacturing technologies and installation of manufacturing equipment; disruptions in information technology systems, including cyber-attacks or other intrusions to network security; successful installation of new or upgraded information technology systems; data security breaches; volatility of financial markets; impairment of capitalized assets, including goodwill and other intangibles; credit risks; the Company’s ability to obtain adequate financing arrangements and maintain access to capital; fluctuations in interest and tax rates; changes in tax laws and regulations, and uncertainties associated with interpretations of such laws and regulations; outcome of tax audits; fluctuations in pension, insurance, and employee benefit costs; the impact of legal and regulatory proceedings, including with respect to

environmental, health and safety; protection and infringement of intellectual property; the impact of epidemiological events on the economy and the Company’s customers and suppliers; acts of war, terrorism, and natural disasters; and other factors.

The Company believes that the most significant risk factors that could affect its financial performance in the near-term include: (1)the impacts of global economic conditions and political uncertainty on underlying demand for the Company’s products and foreign currency fluctuations; (2)competitors’ actions, including pricing, expansion in key markets, and product offerings; (3)the degree to which higher costs can be offset with productivity measures and/or passed on to customers through selling price increases, without a significant loss of volume; and (4)the execution and integration of acquisitions.

For a more detailed discussion of these and other factors, see Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Results of Operations and Financial Condition” in the Company’s 2016 Form 10-K, filed on February 23, 2017 with the Securities and Exchange Commission, and subsequent quarterly reports on Form 10-Q. The forward-looking statements included in this Form 8-K are made only as of the date of this Form 8-K, and the Company undertakes no obligation to update these statements to reflect subsequent events or circumstances, other than as may be required by law.

Avery Dennison Corp ExhibitEX-99.1 2 a17-13273_3ex99d1.htm EX-99.1 Exhibit 99.1 For Immediate Release AVERY DENNISON ANNOUNCES SECOND QUARTER 2017 RESULTS Ø 2Q17 Reported EPS of $1.34 Ø Adjusted EPS (non-GAAP) of $1.31 Ø 2Q17 Net sales increased ~6% to $1.63 billion Ø Sales change ex. currency (non-GAAP) of ~7% Ø Organic sales change (non-GAAP) of ~3% Ø Raised FY17 guidance midpoint for Reported and Adjusted EPS by $0.25 GLENDALE,…To view the full exhibit click here
About AVERY DENNISON CORPORATION (NYSE:AVY)
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing, printing, stamping and die-cutting. The Company’s operational segments include Pressure-sensitive Materials (PSM), Retail Branding and Information Solutions (RBIS), and Vancive Medical Technologies (Vancive). It also sells pressure-sensitive materials in converted form as tapes and reflective sheeting. It also manufactures and sells a range of other converted products and items not involving pressure-sensitive components, such as fasteners, tickets, tags, radio-frequency identification (RFID) inlays and tags, and imprinting equipment and related services, which it markets to retailers, and apparel manufacturers and brand owners.