3M Sees Record Quarter as Sales Jump, Raises Guidance

3M reported second-quarter earnings of $1.54/share, a record, on sales of $6.7 billion. Earnings beat analyst estimates of $1.48/share. Sales rose 17.7% from the same quarter in 2009, while earnings per share rose 37.5%. Income totaled $1.12 billion for the quarter, up from $783 million in the second-quarter of 2009. Sales rose across the company, with the electronics and communications segment posting the largest gain from at 32% year-on-year, just ahead of the display and graphics segment at 30%. The health care segment saw the smallest sales gain, at 5%...

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