3M sales up 1.3 percent
3M reported third-quarter sales were $8.2 billion with organic local-currency sales up 1.3 percent while acquisitions, net of divestitures, increased sales by 0.2 percent.
Foreign currency translation decreased sales by 1.7 percent year-on-year.
Net income of $1.5 billion, or $2.58 per diluted share, compared to net income of $1.4 billion, or $2.39, in the same quarter last year.
In the Safety and Graphics segment, sales were $1.7 billion, up 7.0 percent in U.S. dollars. Sales grew in personal safety, transportation safety, and commercial solutions; roofing granules declined.
Industrial sales of $3.0 billion were flat in U.S. dollars. Sales growth was led by advanced materials, automotive and aerospace, and industrial adhesives and tapes; automotive aftermarket declined.
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.
