3M profit up 4 percent for quarter, sales increase 2.4 percent

MINNEAPOLIS, Minn., Tue Apr 24, 2012 – 3M Co. reported a 4 percent rise in quarterly profit on Tuesday, helped by a strong performance in its industrial and transportation business and growth in the Americas.

The maker of Post-It notes, Scotch tape and components for consumer electronics reported net earnings of $1.12 billion, or $1.59 per share, compared with $1.08 billion, or $1.49 per share, a year earlier.

3M’s sales rose 2.4 percent to $7.5 billion during the first quarter, the company said.

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