3M

Post-It Notes Maker 3M's Sales Fall 2.2%

Industries Reuters

Diversified manufacturer 3M reported a 2.2 percent fall in quarterly revenue as sluggish economic growth in emerging markets including China hurt demand and a strong dollar eroded the value of sales from outside the United States.

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Net income attributable to 3M rose to $1.28 billion, or $2.05 per share, in the first quarter ended March 31, from $1.20 billion, or $1.85 per share, a year earlier.

3M, which makes Post-it notes as well as adhesives, abrasives and other products for a variety of industries, said revenue fell to $7.41 billion from $7.58 billion.

The company gets nearly two-thirds of its revenue from outside the United States.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Savio D'Souza)