3M Reports Record Revenue
It's A Year-Over-Year Increase Of 4.2%
Minnesota-based 3M, the parent company of Counselor Top 40 supplier 3M Promotional Markets (asi/91240), has announced its fourth quarter 2012 revenues were a record $7.4 billion, a year-over-year increase of 4.2%. The company also reported a Q4 profit of $991 million, up $40 million from the same period in 2011, and a quarterly operating margin that improved slightly, reaching 19.5%.
"Our people executed well in the face of challenging macroeconomic conditions and we have built good momentum to innovate and move forward in 2013," said Inge Thulin, chairman of 3M.
Among the international firm's largest components, only its safety, security and protection services segment saw declining Q4 sales, falling 2.5% to $904 million. Meanwhile, Q4 sales in 3M's industrial and transportation segment rose 3.8% to $2.49 billion and sales in its health-care segment increased 5.6% to $1.33 billion.
For all of 2012, 3M's sales were $29.9 billion, a 1% increase over the prior year. In its latest financial statement, the company maintained its 2013 full-year forecast, predicting earnings will fall in a range between $6.70 and $6.95 per share. 3M, which reported 2011 total revenue of $29.6 billion, does not list sales of individual divisions. Counselor estimates the annual revenue of 3M Promotional Markets to be $100 million.