Despite recessionary headwinds, 3M Co. increased sales from the first to second quarter and surprised analysts with higher-than-expected earnings per share of $1.12.
• Second-quarter sales dropped from $6.7 billion in 2008 to $5.7 billion this year, but second quarter sales increased $600 million from the first quarter.
• The company expects full-year earnings per share to be $4.10 to $4.30, up from $3.90 to $4.30 forecast in April.
• The sales slide for the rest of the year will be less severe than an earlier forecast.
