3M 4Q Results Beat on Top, Bottom Line


3M reported higher-than-expected quarterly earnings on Thursday as demand from industrial and transport markets offset weak sales to makers of consumer electronics.

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The maker of Post-It notes, Scotch tape and components for consumer electronics reported net earnings of $954 million, or $1.35 per share, compared with $928 million, or $1.28 per share, a year earlier.

Analysts on average were expecting a profit of $1.31 a share, according to Thomson Reuters I/B/E/S.

Sales rose 6 percent to $7.1 billion, matching Wall Street estimates.

Minneapolis-based 3M affirmed its forecast of 2012 earnings between $6.25 and $6.50 per share.

(Reporting By Nick Zieminski in New York; Editing by Lisa Von Ahn)

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