3M Profit, Sales Rise on Weaker Dollar

3M Co., maker of Scotch tape and fiber-optic cable, said first-quarter sales and profit rose 11%, helped by a drop in the value of the dollar.

Net income rose to $502 million, or $1.27 a share, from $452 million, or $1.14, a year earlier, the firm said. Revenue rose 11% to $4.32 billion.

Shares of St. Paul, Minn.-based 3M fell 15 cents to $129.83 on the NYSE.