3M reported record second-quarter earnings of $1.596 billion on sales of $6.7 billion.
The makers of Scotch tape and Post-it notes said that sales improved in all businesses and geographic regions, with particular strength in Electro and Communications at 32 percent. Total-company sales rose 18 percent year-on-year and 6 percent sequentially, and have now returned to second quarter 2008 levels.
"Our growth strategy continues to gain momentum as we again delivered strong top-line growth and outstanding leverage to the bottom line," said George W. Buckley, 3M chairman, president and chief executive officer.
Buckley added that the second-quarter results reaffirm the company's long-term strategy of accelerating investment in higher growth opportunities.
"Our new product vitality index is the highest in recent memory and we are taking share in many of our businesses," he said. "3M's improved engine of organic growth, combined with our commitment to operational excellence positions us well to deliver sustainable increases in sales, earnings and free cash flow."