3M delivers record results
3M reported third-quarter earnings of $1.78 per share, an increase of 7.9 percent versus the third quarter of 2012.
Net income was $1.24 billion compared to $1.18 billion in the same period last year.
Sales grew 5.6 percent year-on-year to $7.9 billion. Organic local-currency sales grew 5.8 percent, acquisitions added 1.5 percent to sales and currency impacts reduced sales by 1.7 percent year-on-year.
In the Industrial segment, sales increased by 8.6 percent to $2.7 billion, led by gains in aerospace, automotive, advanced materials, liquid filtration, automotive aftermarket and industrial adhesives and tapes.
Industrial sales rose in all major geographies, with double-digit growth in Latin America/Canada.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
