MENTOR, Ohio (AP) — MENTOR, Ohio (AP) — Avery Dennison Corp. (AVY) on Wednesday reported third-quarter profit of $138.3 million.

On a per-share basis, the Mentor, Ohio-based company said it had profit of $1.71. Earnings, adjusted for restructuring costs, came to $2.10 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.07 per share.

The maker of office products posted revenue of $2.1 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $2.12 billion.

For the current quarter ending in December, Avery Dennison expects its per-share earnings to range from $2.10 to $2.25.

Avery Dennison shares have declined slightly more than 4% since the beginning of the year, while the S&P's 500 index has increased 11%. The stock has decreased slightly in the last 12 months.


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