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3M Posts Profit Growth, Expects Electronics Recovery Mid-Year

9:55 AM MDT | April 24, 2012 | Rebecca Coons

Growth in industrial and automotive markets helped 3M offset weak consumer electronics demand and pushed first quarter earnings ahead of Wall Street estimates. The company reported net income of $1.1 billion  for its fiscal first quarter ended March 31st, up 4% from the same year ago quarter. Earnings of $1.59/share beat analysts’ estimates of $1.49/share, as reported by Thomson Reuters (New York). Sales increased 2%, to $7.5 billion. Sales increased across all company segments except electronic and communications and display graphics, which were...

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