On Air Now

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 1450 AM Holland, MI

Weather

Current Conditions(Holland,MI 49422)

More Weather »
77° Feels Like: 78°
Wind: WSW 17 mph Past 24 hrs - Precip: 0.12”
Current Radar for Zip

Today

Scattered Thunderstorms 78°

Tonight

Thunderstorms Early 66°

Tomorrow

Partly Cloudy 75°

3M posts slight profit gain, boosts share buyback plan

(Reuters) - Diversified U.S. manufacturer 3M Co posted a slightly higher quarterly profit on Thursday, helped by revenue increases across most of its business lines, and raised the number of shares it expects to buy back this year.

The company, whose products include Post-it notes and film for flat-panel televisions, said second-quarter net income rose to $1.2 billion, or $1.71 per share, from $1.17 billion, or $1.66 per share a year ago.

Analysts on average expected $1.70 per share, according Thomson Reuters I/B/E/S.

Revenue increased 2.9 percent to $7.75 billion. Analysts were looking for $7.77 billion.

3M backed its full-year earnings forecast of $6.60 to $6.85 per share. Analysts were anticipating $6.71. The company had lowered its projection in April from a range of $6.70 to $6.95 per share.

The company expects its 2013 share repurchases to be in the range of $3.5 billion to $4.5 billion compared with $2 billion to $3 billion, previously.

(Reporting by Lewis Krauskopf; Editing by Maureen Bavdek)

Comments