3M achieves record earnings in Q2 2012

3M has published its financial report for the second quarter of 2012, during which the company achieved a record-breaking performance in terms of earnings.

Although company sales eased by 1.9 percent year on year to $7.5 billion (4.77 billion pounds) during the quarter, earnings per share rose by 3.8 percent to a best-ever level of $1.66.

Meanwhile, all six of the company's business segments posted operating income margins greater than 20 percent, with its healthcare division among those experiencing annual growth.

Sales of food safety, health information and skin/wound care products were noted as being strong, while regional healthcare growth was observed in Europe, Asia-Pacific, and North and South America.

Inge Thulin, 3M's chairman, president and chief executive officer, said: "We will keep driving to achieve strong earnings and cash flow. At the same time we will expand 3M's customer relevance through strategic investments in manufacturing, innovation and commercialisation."

Earlier this week, the company was granted AOAC-PTM certification for its newest food safety product, the 3M Molecular Detection Assay for E. coli O157.