PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

JPCL FREE Trial

Paint and Coatings Industry News

Main News Page


3M Reports Strong Third Quarter

Friday, October 23, 2009

Comment | More

3M (St. Paul, MN), which includes coatings, respirators, and other materials for painting among its product lines, has announced strong third quarter results, with sales of $6.2 billion, a 5.6% decline from Q3 2008 but an 8.3% increase over Q2 2009. Net income was $971 million, down 2.8% year-on-year.

In the industrial and transportation segment, sales of $1.9 billion were down 6.4% year-on-year, although the company says that quarter-on-quarter trends are improving. Sequential sales improved by 10.1% and operating income by 22.7%, led by industrial adhesives and tapes and automotive OEM businesses.

The safety, security, and protection services segment saw sales of $864 million, down 2% compared to 2008. Operating income increased by 9.8%. According to the company, respirator manufacturing plants are running at full capacity, but difficult economic conditions continued to hurt sales of corrosion protection products.

The health care segment was up 4.7% year-on-year with sales of $1.1 billion. The consumer and office segment saw a decline of 4.8% compared to 2008, with sales of $923 million. The display and graphics segment was up 5.5% over last year with sales of $896 million. The electro and communications segment was down 15.3% year-on-year with sales of $617 million.

For more information, visit www.3m.com.

   

Tagged categories: 3M; Earnings reports; Finance

Comment Join the Conversation:

Sign in to our community to add your comments.

3M Corrosion Protection Products
3M™ Sotchkote™ 323 Field Applied Coatings

Let 3M show you how 50 years of experience can lead to less waste, less rework, and more productivity. Our coatings are proudly made in the U.S.A. go.3M.com/Find/Distributor


Van Air Systems
Need Dry
Compressed Air?

Van Air Systems' Blast Pak is the answer! The Blast Pak is a drying package that leaves contractors with cool, clean and dry compressed air, Ideal for mobile blasting & painting contractors.


Dampney Co., Inc.
High Temperature
Stove Paint

• Multiple Colors.
• Prevents rust and corrosion.
• Wood Burning stoves,
fire pits, smokers.
• Aerosol, Quarts,
Gallons, 5 Gallons.


Abrasives Inc.
Check our Prices for Blast Abrasives

Faced with higher abrasive costs? We invite you to call & check our rates on Black Magic® coal slag and other quality blast materials. Abrasives Inc. 800-584-7524


TruQC, LLC
Click here to start your free trial

TruQC is cloud-based job-site documentation built for the iPad. It's easy-to-use, objective and complies to common industry standards. Learn more: TruQCApp.com.


Safway Services
One Source. Every Solution.

The Safway Group is your source for multiservices. Painting, coating, insulation and more – all from the most trusted name in the industry.


Denso North America Inc.
Tank Base Protection

An easy to apply system utilizing Denso tapes and coatings around the tank base, that helps prevent corrosion from external elements.
Call 1-281-821-3355 or Visit densona.com

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker JPCL Europe

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2013, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com