1Q_2007_NR

Avery Dennison reported its first quarter 2007 results, with net sales up 3.9% to $1.39 billion and earnings per share of $0.80, including restructuring charges of $0.02 per share. The company reached an agreement to acquire Paxar for $1.3 billion. Segment results were mixed, with pressure sensitive materials up 9.2% but office and consumer products down 10.6%. For the full year, the company expects earnings per share of $3.95 to $4.25 including restructuring charges, or $4.05 to $4.30 excluding charges.