3M profits climb 11 percent in 4Q

Makers of Post-it notes, Maplewood, Minn.-based 3M Co. (NYSE: MMM) posted earnings in the fourth quarter up more than 11 percent compared to the same quarter in 2012. The increase was driven, in part, by revenue growth in the firm’s industrial business, according to the Associated Press.

Industrial revenue jumped by 6.1 percent to $2.6 billion thanks to gains in advanced materials, aerospace and automotive aftermarket products. However, revenue from consumer goods fell by 1 percent to $1.1 billion and operating income dropped by 3.4 percent to $226 million.

During the quarter, 3M earned $1.1 billion, or $1.62 per share, up from $991 million, or $1.41 per share, a year ago. Total revenue increased 2.5 percent to $7.57 billion from $7.38 billion during the same period in 2012, according to the AP.

Read more from the Associated Press.[[In-content Ad]]