Key Developments: Avery Dennison Corp (AVY)

AVY on New York Consolidated

50.24USD
16 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Avery Dennison Corp Lowers High End of Prior FY 2013 EPS Guidance To A Range In Line With Analysts' Estimates
Wednesday, 24 Apr 2013 08:30am EDT 

Avery Dennison Corp announced that for fiscal 2013, earnings per share (EPS) from continuing operations of $2.23 to $2.58. Excluding an estimated $0.17 per share for restructuring costs and other items, net of gain on sale of assets, the Company expects adjusted (non-GAAP) earnings per share from continuing operations of $2.40 to $2.75. According to I/B/E/S estimates, analysts were expecting the Company to report EPS of $2.56 for fiscal 2013.  Full Article

3M Co And Avery Dennison Corp. Conclude Patent Infringement And Related Lawsuits
Thursday, 28 Mar 2013 08:10pm EDT 

3M Co along with its wholly-owned subsidiary 3M Innovative Properties Co., announced that they have successfully concluded their lawsuits against Avery Dennison Corp. relating to retroreflective sheeting products used on traffic signs, pavement markings and other traffic control products. 3M’s patent infringement litigation against Avery has been resolved with the court entering a consent judgment in favor of 3M. Avery’s separate claims of patent infringement and antitrust violations against 3M have been dismissed by the court with prejudice.  Full Article

Avery Dennison Corp Issues FY 2013 EPS Guidance In Line With Analysts' Estimates
Wednesday, 30 Jan 2013 07:35am EST 

Avery Dennison Corp announced that for fiscal 2013, it expects earnings per share (EPS) from continuing operations of $2.23 to $2.63. Excluding an estimated $0.17 per share for restructuring costs and other items, the Company expects adjusted (non-GAAP) earnings per share from continuing operations of $2.40 to $2.80. According to I/B/E/S estimates, analysts were expecting the Company to report EPS of $2.37 for fiscal 2013.  Full Article

Avery Dennison Corp Announces Definitive Agreement to Sell Two Businesses to CCL Industries Inc for $500 Million
Wednesday, 30 Jan 2013 07:32am EST 

Avery Dennison Corp announced that it has signed a definitive agreement to sell its Office and Consumer Products (OCP) and Designed and Engineered Solutions (DES) businesses to CCL Industries Inc, is in specialty packaging solutions, for $500 million in cash. The transaction is subject to customary closing conditions, adjustments and regulatory approvals, and is expected to be completed in mid-2013. Avery Dennison intends to use the expected net sale proceeds of approximately $400 million to repurchase shares and make an additional pension contribution. Avery Dennison`s Office and Consumer Products business is one of the world`s suppliers of printable media and other products, with 2012 sales of approximately $730 million and adjusted operating income of approximately $86 million. J.P. Morgan Securities LLC advised Avery Dennison on the transaction. Latham & Watkins served as Avery Dennison`s legal counsel.  Full Article

Avery Dennison Corp Declares Quarterly Dividend
Wednesday, 23 Jan 2013 08:00am EST 

Avery Dennison Corp announced it has declared a quarterly cash dividend of $0.27 per share. The dividend is payable March 20, 2013 to shareholders of record on March 6, 2013.  Full Article

Avery Dennison Corp Declares Quarterly Cash Dividend
Thursday, 25 Oct 2012 11:50am EDT 

Avery Dennison Corp announced that the Board of Directors has declared a quarterly cash dividend of $0.27 per share. The dividend is payable December 19, 2012 to shareholders of record on December 5, 2012.  Full Article

Avery Dennison Corp and 3M Co Terminate Agreement for Sale of Office and Consumer Products Business
Wednesday, 3 Oct 2012 04:53pm EDT 

Avery Dennison Corp and 3M Co announced that they have terminated the definitive agreement under which 3M would have purchased Avery Dennison’s Office and Consumer Products business, the two companies announced October 03, 2012. Avery Dennison will continue to pursue a divestiture of the Office and Consumer Products business.  Full Article

Avery Dennison Corp's Avery Dennison Medical Solutions Announces 510(k) Clearance of New Chlorhexidine Gluconate Transparent Film Dressing
Monday, 1 Oct 2012 11:15am EDT 

Avery Dennison Medical Solutions, a business unit of Avery Dennison Corp announced that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its new Chlorhexidine Gluconate (CHG) transparent film dressing, known as BeneHold CHG Transparent Film Dressing. In-vitro test data demonstrate the new dressing’s antimicrobial efficacy across a broad range of bacteria and yeast commonly found in catheter-related blood stream infections. Tests show that the dressing is appropriate for applications where the spread of infection is a concern and moisture management is required, such as the securement of IV catheters. The patent-pending CHG adhesive formulation used on the dressing is transparent to allow visualization of the access site—a critical parameter for vascular access professionals, including nurses and infection-control specialists.  Full Article

Cencorp Oyj Signs Memorandum of Understanding to Acquire Avery Dennison Corp's Conductive Back Sheet Business; Lowers FY 2012 EBITDA Guidance; Confirms FY 2012 Net Sales Guidance; to Issue Bonds
Tuesday, 21 Aug 2012 02:25am EDT 

Cencorp Oyj announced that it signed a Memorandum of Understanding with Avery Dennison Corp according to which Cencorp acquires Avery Dennison's Conductive Back Sheet business and related intellectual property rights. The purchase price is USD 500,000 cash and 6,711,409 Cencorp shares at the time of the acquisition, where number of shares will be adjusted for the difference in the EU/Dollar exchange rate at the time of issuance to the EU/Dollar exchange rate on August 7, 2012. Avery Dennison will not sell Cencorp shares received as purchase price payment within 12 months from the effective date of the definitive purchase agreement. It is also expected that Cencorp will separately enter into agreements with the key persons that were involved with the business being acquired to join Cencorp team. The final terms are still under negotiations and realization is not certain. The Company also announced that it has lowered its fiscal year 2012 EBITDA guidance. The Company expects to report negative EBITDA for fiscal year 2012. Previously, the Company expected positive EBITDA for fiscal year 2012. The Company also still expects to report fiscal year 2012 net sales of continuing businesses lower than in fiscal year 2011. The Company reported fiscal year 2011 net sales of EUR 21.6. The Company also announced that it will issue convertible bond with the maximum amount of EUR 1,500,000 and simultaneously it will issue stock options with maximum amount of 21,428,571 free of charge.  Full Article

Avery Dennison Corp Declares Quarterly Dividend; Authorizes Additional Share Repurchases
Thursday, 26 Jul 2012 08:30am EDT 

Avery Dennison Corp announced that it has declared a quarterly cash dividend of $0.27 per share. The dividend is payable September 19, 2012 to shareholders of record on September 5, 2012. The Board also authorized the repurchase of shares of the Company’s common stock in the total aggregate amount of up to $400 million (exclusive of any fees, commissions or other expenses related to such purchases).  Full Article

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