P.M. BRIEFING : 3M Sales $3.2 Billion; Profits Up
<i> From Times Wire Services </i>
ST. PAUL, Minn. —
Minnesota Mining and Manufacturing Co. said today its profit rose 4.7% in the second quarter as its sales climbed 6.9%.
The diversified manufacturing company, also known as 3M, said it earned $342 million, or $1.54 per share, in the three months ended June 30 compared with $327 million, or $1.49 per share, a year earlier.
Sales in the second quarter rose to $3.234 billion from $3.025 billion in 1989.
For the first six months, net income rose 5% to $677 million, or $3.05 a share, compared with $645 million, or $2.92 a share, in the first half of last year.
Sales for the first six months increased 5.9% to $6.398 billion from $6.042 billion in the year-ago period.
