3M profits on international sales
New York - US manufacturer 3M overcame the economic slowdown in its home market with strong international sales in the third quarter, the company said Tuesday.
Profits rose 3 per cent over the year earlier period to 991 million dollars, the St Paul, Minnesota maker of products like Post It notes and Scotch tape said. Revenue rose more than 6 per cent to
6.6 billion dollars.
The earnings were above analysts' expectations, but the company warned profits for the year could still fall below predictions as the economic downturn spreads worldwide.
3M's products include office supplies, electronics, autoparts and raw materials. Sales of security products were particularly strong in the quarter, while sales of office products and electronics were weaker. (dpa)