Avery Dennison, Mission Valley Bank Report Earnings

Avery Dennison beat Wall Street estimates on adjusted earnings while matching revenue in the fourth quarter. The Glendale maker of self-adhesive labels, apparel tag and medical products on Wednesday reported adjusted net income of $133 million ($1.52 a share) on revenue of $1.8 billion for the quarter ending Dec. 29. Those figures are up from the adjusted net income of $120 million ($1.33) on revenue of $1.7 billion for the same period a year earlier. Analysts on average expected earnings of $1.50 on revenue of $1.8 billon, according to Thomson Financial Network. Avery (AVY) announced its earnings before the market opened. Shares closed up $3.46, or more than 3 percent, to $102.21 on the New York Stock Exchange. Mission Valley Bancorp saw a dip in net income last year while increasing total assets and deposits. The Sun Valley holding company of Mission Valley Bank on Wednesday reported full 2018 net income of $3.2 million (98 cents a share) for the quarter ending Dec. 31. That compares with net income of $3.6 million ($1.07) in the same period a year earlier. Total assets in 2018 increased by 6.2 percent to $351 million while total deposits went up by 5.9 percent to $297 million compared to the previous year. Shares in Mission Valley (MVLY) closed up 4 cents, or a fraction of 1 percent to $14 on the over-the-counter market.