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What: The label business fell flat in the fourth quarter, sending shares of Avery Dennison
So what: Revenue in the fourth quarter was down slightly to $1.45 billion, but it fell well short of the $1.59 billion analysts had expected. The bottom line looked like a misprint with earnings falling 81% to $22.1 million for the quarter. Earnings per share were $0.21, less than half of the $0.46 analysts had expected.
Now what: There's not really a good way to paint this one, except to be happy the stock hasn't fallen further. The company did increase its dividend to $0.27 per share, but I would rather see that along with improving operating conditions. I have to sell this report today and won't be jumping in until the business stops its recent streak of missing earnings expectations by a wide margin.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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