3M sales down 2.6 percent
3M reported second quarter sales of $8.2 billion were down 2.6 percent year-on-year.
Organic local-currency sales decreased 0.9 percent while acquisitions, net of divestitures, increased sales by 0.1 percent. Foreign currency translation decreased sales by 1.8 percent year-on-year.
In the Safety and Industrial segment, sales of $3 billion were down by 9 percent. Sales increased in roofing granules and personal safety; declined in industrial adhesives and tapes, electrical markets, abrasives, closure and masking, and automotive aftermarket.
Net income of $1.1 billion, or $1.92 per share, compared to $1.8 billion, or $3.07, in the same period last year.
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.
