3M earnings rise
3M reported first-quarter sales rose 2.0 percent to $7.6 billion, an all-time first-quarter record.
First-quarter net income was $1.1 billion, or $1.61 per share, an increase of 1.3 percent versus the first quarter of 2012..
“We achieved record first-quarter sales and solid operating margins in the face of a low-growth economic environment and the strong U.S. dollar,” said Inge G. Thulin, 3M chairman, president and chief executive officer.
Industrial segment sales were $2.7 billion, up 4.6 percent in U.S. dollars. Sales growth was led by aerospace, industrial adhesives and tapes, personal care and liquid filtration; the advanced materials business declined year-on-year.
Safety and Graphics segment sales were $1.4 billion, up 2.2 percent in U.S. dollars. Sales growth was strongest in commercial graphics, architectural markets, building and commercial services and personal safety; sales declined in the traffic safety and security business.
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.
