GLENDALE, Calif. (AP) _ Avery Dennison Corp. (AVY) on Wednesday reported a first-quarter loss of $146.9 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Glendale, California-based company said it had a loss of $1.74. Earnings, adjusted for one-time gains and costs, were $1.48 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.
The maker of office products posted revenue of $1.74 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $1.75 billion.
Avery Dennison expects full-year earnings in the range of $6.45 to $6.70 per share.
Avery Dennison shares have risen 29 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 17 percent. The stock has increased slightly more than 8 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVY at https://www.zacks.com/ap/AVY