3M Reports Record $24.5 Billion in 2007 Sales; Safety Unit Up 11.3 Percent

3M today reported its 2007 sales were a record $24.5 billion, up 7 percent from the prior year and up 11 percent when adjusted for recently divested businesses. Net income for 2007 was a record $4.1 billion ($5.60 per share) against $3.9 billion ($5.06) in 2006. Fourth quarter 2007 sales were a record $6.2 billion, up 7 percent, with $851 million in net income for the quarter.

Chairman, President, and CEO George W. Buckley thanked the employees for achieving record sales and earnings. "We made good progress on our growth plan in 2007 and we will continue this effort in 2008," he said in the company's news release. "By investing in our many enduring franchises, strategic acquisitions, and new plants to streamline our supply chain, we are securing 3M's future as a faster-growng and more efficient enterprise." The company reiterated it expects 2008 earnings to be at least 10 percent higher than its 2007 earnings per share.

The Safety, Security and Protection Services unit ranked fifth among the six segments in terms of fourth quarter 2007 sales, with this Safety unit racking up $747 million, up 11.3 percent from 2006. The company cited "broad-based sales growth led by respiratory protection and corrosion protection products." For the full year of 2007, the unit recorded $3.07 billion in net sales and $611 milloin in operating income.   

Download Center

HTML - No Current Item Deck
  • Free Safety Management Software Demo

    IndustrySafe Safety Management Software helps organizations to improve safety by providing a comprehensive toolset of software modules to help businesses identify trouble spots; reduce claims, lost days, OSHA fines; and more.

  • Comply with OSHA’s Electronic Recordkeeping Requirements

    Collect relevant incident data and generate accurate OSHA 300, 300A, and 301 regulatory reports, including 300A CSV files for easy electronic submission to OSHA.

  • Complete Online Safety Training Courses

    Deliver state-of-the art, online safety training courses to your organization with IndustrySafe Training Management Software. Generate reports to track training compliance and automatically notify learners of upcoming or overdue classes.

  • Easy to Use Safety Inspection App

    Conduct inspections on the go with IndustrySafe’s mobile app. Complete safety audits at job sites and remote locations—with or without web access.

  • Track Key Safety Performance Indicators

    IndustrySafe’s Dashboard Module allows organizations to easily track safety KPIs and metrics. Gain increased visibility into your business’ operations and safety data.

  • Industry Safe
comments powered by Disqus