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* Avery Dennison Corp. raised its forecast for second-quarter profit because of strong sales growth, more stable pricing and improved productivity. The Pasadena-based maker of adhesive labels and other products expects earnings of at least 72 cents a share, compared with analysts’ average forecast of 58 cents and the company’s previous projection of 66 cents to 71 cents.
* Lennar Corp. said it completed its acquisition of Pacific Century Homes of Temecula and Cambridge Homes of Fresno, for undisclosed terms. The purchases create the third-largest home builder in Southern California.
For the record:
12:00 a.m. July 13, 2002 For The Record
Los Angeles Times Saturday July 13, 2002 Home Edition Main News Part A Page 2 National Desk 7 inches; 272 words Type of Material: Correction
Avery Dennison profit--A brief news item Friday in the Business section on Avery Dennison Corp. raising its second-quarter profit forecast to at least 72 cents a share misstated analysts’ average estimate for the company. Analysts on average were expecting 68 cents.
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