ST. PAUL– 3M has released its sales figures for the third-quarter. Compared to 2007 figures, worldwide sales rose 6.2%, coming in at $6.6 billion.
Net income was $991 million, up $31 million over last year. Reported earnings per share were $1.41, or $1.42 excluding special items.
The company credits its diversified portfolio and strong workforce for the results. Operating margins were over 23%, especially noteworthy in this struggling economy. Double-digit sales were reported in: Safety, Security and Protection Services; Health Care and Industrial; and Transportation– three of its biggest businesses.
George Buckley, chairman, president and CEO, points out that 3M’s “diversified global business model has enabled (the company) to weather many economic storms.” Sales in Latin America increased 26% over 2007. Europe and Canada experienced 8% and 9% sales growth respectively.