Medicare and Medicaid

3M First-Quarter Sales Increase 25 Percent; Per-Share Earnings Rise 74 Percent

Published in Healthcare Mergers, Acquisitions and Ventures Week, May 15th, 2010

3M (NYSE: MMM) reported first-quarter earnings of $1.29 per share on sales of $6.3 billion. Operating income margins were 22.8 percent, up 7 percentage points year-on-year. Sales and per-share earnings increased 24.7 percent and 74.3 percent, respectively, versus the first quarter of 2009.

Each of the company's six business segments posted double-digit sales growth and 20 percent-plus operating income margins. Sales growth was strongest in emerging economies, where sales expanded by 47 percent versus the first quarter of 2009. Free cash flow © more than doubled to $925 million, a first-quarter record for the company, and free cash flow conversion was 99...

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Source: Healthcare Mergers, Acquisitions and Ventures Week (2010-05-15)

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