3M sales rise by 4.2%
3M reported fourth-quarter sales rose 4.2 percent year-on-year to $7.4 billion, an all-time fourth-quarter record.
Fourth-quarter net income was $1.0 billion, or $1.41 per share.
In the Industrial and Transportation segment, sales increased 3.8 percent to $2.5 billion.
Sales growth was strongest in liquid filtration, aerospace, industrial adhesives and tapes, abrasives and automotive OEM; both the advanced materials and the renewable energy businesses declined year-on-year.
In the Safety, Security and Protection Services segment, sales were down 2.5 percent to $904 million. Sales growth was strongest in infrastructure protection, personal safety and roofing granules; sales declined year-on-year in security systems.
For the full year 2012, 3M posted record sales of $29.9 billion, up 1.0 percent year-on-year. Organic local-currency sales grew 2.6 percent and acquisitions added 0.8 percent to sales. Foreign currency translation reduced sales by 2.4 percent year-on-year.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
