3M profit rises slightly in 4th quarter, driven by basic products like Post-Its, police tape The USA Times

Blind Chinese activist leaves Beijing hospital, prepares to depart for the United States . NBA Capsules: Bryant scores 26, Lakers cut Thunder's series lead to 2-1 . Baseball Capsules: Verlander just misses no-no as Tigers beat Pirates . Kobe scores 36, leads Lakers past Thunder in 99-96 thriller to cut series deficit to 2-1 . Los Angeles police: 2 young men arrested in shooting deaths of Chinese students near college . Facebook debut as a public company fails to sizzle as stock closes nearly flat . Los Angeles police: 2 arrests in shooting deaths of Chinese graduate students near USC campus . Iguodala, Turner spark second-half surge in Game 4 and help 76ers top Celtics 92-83 . 'Da Vinci Code' author Dan Brown speaks, says writing under way on next novel . Samuelsson goal lifts Oil Kings to 4-3 win over Cataractes at Memorial Cup .

Saturday, May 19, 2012

3M profit rises slightly in 4th quarter, driven by basic products like Post-Its, police tape

(AP Photo/Paul Sakuma)

NEW YORK, N.Y. - 3M says its profit inched 3 per cent higher in the fourth-quarter as growth in basic products like Post-Its and police tape offset declines in its high-tech products.

The maker of everything from Scotch Tape to computer arms also maintained its profit forecast for 2012 as it expects slower economic growth around the world.

The Maplewood, Minn., company said Thursday it earned $954 million, or $1.35 per share, compared with $928 million, or $1.28 per share, a year ago.

Revenue rose 6 per cent to $7.09 billion.

FactSet says analysts expected a profit of $1.31 per share on revenue of $7.09 billion.

3M Co. said sales were strongest for the company's industrial and transportation unit. Sales fell in its electronics and communications and display and graphics segments.