3M Reports Record Earnings
[Tuesday, October 23, 2012] 3M today reported record third-quarter earnings of $1.65 per share, an increase of 8.6 percent versus the third quarter of 2011. Operating income was $1.7 billion and operating income margins for the quarter were 22.4 percent.
Sales were $7.5 billion, down 0.4 percent year-over-year. Organic local-currency sales grew 2.2 percent and acquisitions added 0.5 percent to sales. Currency impacts reduced sales by 3.1 percent year-on-year. Third quarter net income was $1.2 billion.
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