3M net income rises in Q3
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Maplewood-based 3M saw its third-quarter net income rise 6 percent to $1.2 billion.
Company officials said they saw substantial improvement in operations in the United States, Western Europe and Japan. Each of 3M's businesses -- from Post-it notes and dental implants to products that go into cars, TVs, and cell phones -- achieved operating profit margins greater than 20 percent.
Health care led the way for the company, which saw revenue rise six percent to $7.5 billion.
"It really in all regions saw accelerating growth which, I think, is very encouraging," said Adam Fleck, an analyst for Morningstar. "Back-to-school sales in the U.S. and early holiday season sales are pretty strong. But it's really the normal stalwarts here. It's automotive, aerospace, general industrial. Overall, for 3M the growth acceleration was positive."
The company's results are watched closely as an economic barometer as its products are used in a variety of industries around the world.
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