3M, maker of Post-its and Scotch tape, said Thursday its second-quarter profit rose slightly on double-digit growth in international markets. St. Paul, Minn.-based 3M Co. earned $945 million, or $1.33 per share, compared with $917 million, or $1.25 per share a year earlier. Net sales are up to $6.74 billion from $6.14 billion a year earlier. Excluding special items 3M says it earned $1.39 per share in the most recent quarter. Thomson Financial analysts expected earnings of $1.35 per share on net sales of $6.69 billion. Sales are up 32 percent in Latin America, 18 percent in Europe, 14 percent in Canada, and excluding certain items are up 17 percent in Asia Pacific. 3M reiterated that it expects 2008 earnings to increase at least 10 percent over 2007 earnings per share of $4.98, which excludes special items. Shares of the company rose $1.60, or 2.3 percent, to $70.80 in pre-market trade. |