In a press release by the company dated April 26th 2022, the board announced their preliminary unaudited results for Q1 2022 with Earnings per share of $2.39 and net sales increase of 14.5% to $2.3 billion.

“We once again delivered strong financial results amidst a challenging environment, with earnings ahead of expectations,” said Mitch Butier, Avery Dennison chairman and CEO.

“Our strong performance comes at a difficult time as COVID-19 continues, supply chains remain tight and inflationary pressures persist. Despite these challenges, we have raised our outlook and we continue to expect strong top- and bottom-line growth for the year,” said Butier. “We remain confident that the consistent execution of our strategies will enable us to meet our long-term goals for superior value creation through a balance of profitable growth and capital discipline.

“Once again, I want to thank our entire team for their tireless efforts to keep one another safe while continuing to deliver for our customers during this challenging period. The team continues to raise their game each quarter, to address the unique challenges at hand.”

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The post Avery Dennison post 2022 first quarter financial results first appeared on RFID News.

Seattle based company Impinj, who are a RAIN RFID and IoT provider have this week released their financial results for the first quarter of 2022.

The NASDAQ listed company posted revenues of $53.1m with a GAAP gross margin go 54.2% and a net GAAP loss of $10.5m. Their earnings before interest, taxes, depreciation and amortisation was 3.5m.

While the company posted losses, the CEO Chris Diorio stated that the company had posted record revenue figures and solid profitability.

Our first-quarter results were strong, with demand for our endpoint ICs, reader ICs, readers and gateways all showing extraordinary strength, We delivered record revenue and solid profitability while investing in our team, company and platform.

Chris Diorio, Impinj co-founder and CEO

In their statement, they posted a second quarter financial outlook, more details of which can be found directly on their news feed.

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If you have a story you think we would be interested in relating to RFID. A product launch, a new RFID technology or a successful RFID implementation project, please do not hesitate to send us your press release.

The post RAIN RFID provider Impinj announce Q1 2022 results first appeared on RFID News.