2Q_2007_PR

Avery Dennison reported second quarter 2007 earnings. While net income per share decreased from the previous year, adjusted earnings per share increased 3% after excluding certain items. Net sales increased 8.1% driven by the acquisition of Paxar, although organic sales growth was only 2%. The company completed the acquisition of Paxar and expects higher cost synergies than initially estimated, but lowered full year earnings guidance due to lower than expected second quarter results.