3M Fourth-Quarter Sales Increase 11 Percent and Earnings Increase 69 Percent
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St. Paul, Minnesota-based 3M reported fourth-quarter earnings of $1.30 per share on sales of $6.1 billion, with operating income margins of 21.9 percent. Sales and per-share earnings increased 11.1 percent and 69 percent year-on-year, respectively. Excluding special items in the fourth quarter of 2008, fourth-quarter 2009 per-share earnings rose 34 percent. Profits grew at double-digit rates in each of the company’s six business segments and in all geographic regions. Free cash flow for the fourth quarter grew by 16 percent to $770 million.
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