Oct 26, 2012. /Lesprom Network/. Avery Dennison Corporation announced preliminary, unaudited 3Q 2012 results. The 3Q effective tax rate was 34.5%. The year-to-date adjusted tax rate for the 3Q decreased from 35% to 33.5%, in line with expectations, as the company said in the press release received by Lesprom Network. Pressure-sensitive Materials segment 3Q sales increased approximately 7%. Within the segment and compared to prior year, Label and Packaging Materials sales increased high single digits, and Graphics and Reflective Solutions sales increased mid-single digits. Operating margin declined 30 basis points to 7.4% due to higher employee-related expenses, the impact of changes in product mix, and higher restructuring costs, partially offset by the benefit of higher volume and productivity initiatives. Adjusted operating margin improved 40 basis points. “In the 3Q, we delivered the strongest organic sales growth since 1Q 2011,” said Dean Scarborough, Avery Dennison chairman, president and CEO. “Continued top-line momentum in Pressure-sensitive Materials and a rebound in Retail Branding and Information Solutions’ core business, as well as accelerating adoption of RFID, drove better than expected earnings for the quarter. As a result, we raised our guidance for full-year earnings per share. “Our restructuring initiative is well under way, and we are on track to achieve more than $100 million in annualized savings by mid-2013,” Scarborough said. “The leaner cost structure that will result will enhance our competitive position and strengthen our ability to increase returns. “We continued to repurchase shares, meeting our commitment to return more cash to shareholders while maintaining a strong balance sheet,” Scarborough said. Avery Dennison is a global leader in labeling and packaging materials and solutions.