3M sales up 9.6 percent
3M reported fourth-quarter sales of $6.7 billion, up 9.6 percent year-on-year including an 8.6 percent increase in organic volumes.
Net income was $928 million, or $1.28 per share, versus $935 million, or $1.30 per share in the corresponding period last year.
The company posted full-year 2010 sales of $26.7 billion and earnings per share of $5.63, up 15.3 percent and 24.6 percent, respectively.
3M's Industrial and Transportation segment recorded fourth-quarter sales of $2.1 billion, up 10.4 percent. For the full year, the segment posted sales of $8.6 billion, up 17.5 percent.
In the Safety, Security and Protection Services segment, fourth-quarter sales rose 8.1 percent to $847 million. For the full year, sales were $3.3 billion, up 7.5 percent.
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.
