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Alidenison achieved double-digit profit growth in the third quarter

Pasadena, California - alidenison Corporation (nyse:avy) today announced its unaudited preliminary results for the third quarter ended September 28, 2013. The reconciliation of all non GAAP financial indicators referenced in this document is shown in the attached table. Unless otherwise stated, the discussion of the company's performance focuses on the comparison of business operations with the same period last year. The results reflect classified office, consumer goods (OCP), design and engineering solutions (DES)

avery Dennis if covestro just stays on the original technology accumulation, Dean Scarborough, chairman and CEO of on company, said: I am glad to see that the wear and noise level can be significantly reduced, and strong double-digit profit growth can be achieved again after quarterly adjustment. It has provided a solid sales growth for our core business, while also achieving the expansion of operating profit margin

in a quarter of strong growth, we increased earnings guidance during the year to continue our capital allocation strategy. Scarborough said

for more detailed information about the company's performance, please refer to the financial review and analysis of the third quarter of 2013 posted on the company's website

segment performance in the third quarter of 2013

all sales are reflected on a relatively organic basis, excluding the impact of white wax chloride on currency conversion, product line exit, acquisition and asset divestiture. The adjusted operating profit margin refers to the percentage of interest expense and profit before tax (excluding restructuring expenses and other items) in sales

pressure sensitive materials (PSM)

psm department sales increased by about 4%. Sales of in film labels and packaging materials increased by single digits. Sales of composite graphics and reflective tape increased by single digits

the measure of improving the operating profit margin by 220 basis points to 10.2% profit productivity, lower restructuring costs, and greater capacity after product portfolio changes offset the impact. The adjusted operating profit margin increased by 120 basis points

retail brands and information solutions (Hongqiao International)

the sales of Hongqiao International increased by about 4%, driven by the increased demand of retailers and brands from Europe

due to higher restructuring costs, the operating profit margin decreased by 20 basis points to 3.2%. The adjusted operating margin was increased by 100 basis points as a benefit of productivity activities and higher sales than offset higher employee expenses

other

share repurchases

the Company repurchased 5.2 million shares, with a total cost of $224 million in the third quarter

discontinued business

on July 1, 2013, the company completed the sale of its OCP and des businesses to CCL Industries. The net proceeds from the sale of the company are expected to be about $40billion, and it is proposed to mainly use repurchased shares

so as to achieve the binding income tax between leading passenger car enterprises and large battery enterprises

the effective tax rate in the third quarter was 17%, and the adjusted tax rate since the beginning of the year was 33%

cost reduction actions

in the third quarter, the company achieved annual savings of about $110million. In the first nine months of 2013, the restructuring expenses incurred by the company, after deducting the income from the sale of assets, were about $200000. In the fourth quarter, the expected income of the cost was offset

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