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St. Paul, MN-based 3M (NYSE: MMM) reported sales for the fourth quarter of $7.4 billion, an increase of 4.2 percent compared to the same period a year ago. Organic local-currency sales increased 4.3 percent. Profit increased 3.9 percent to $991 million.
By segment, organic local-currency sales growth was 8.7 percent in Consumer and Office, 8.3 percent in Display and Graphics, 5.9 percent in Health Care, 3.9 percent in Industrial and Transportation and 1.8 percent in Electro and Communications versus the prior-year period. Safety, Security and Protection Services declined 1.7 percent.
On a geographic basis, organic local-currency sales grew 9.7 percent in Latin America/Canada, 5.8 percent in Asia Pacific, 5.2 percent in the U.S. and declined 1 percent in EMEA (Europe, Middle East and Africa).
For the full year, sales for 3M were $29.9 billion, an increase of 1 percent compared to 2011. Organic local-currency sales grew 2.6 percent and profit increased 3.8 percent to $4.4 billion.