3M Reports 7.8% Hike in Annual Earnings

Minnesota Mining & Manufacturing Co. said today that its earnings increased 7.4% in the fourth quarter and 7.8% for the year.

For the three months ended Dec. 31, the company--also known as 3M--earned $292 million, or $1.31 a share, compared to $272 million, or $1.21 a share, in the same period a year ago. Fourth-quarter sales rose to $2.95 billion from $2.75 billion in 1988.