Post-It note maker 3M sees 2nd-qtr sales beating forecasts on new products, emerging markets

New products drive strong 2Q sales for 3M

ST. PAUL, Minn. — Scotch tape and Post-it Note maker 3M Co. says that new products and strong demand in emerging economies will push its second-quarter sales up 16 percent to 18 percent year-over-year to top Wall Street expectations.

The company says it expects sales to range between $6.6 billion and $6.75 billion for the three-month period ending in June. That would mark 4 percent to 6 percent growth from the first quarter, and 16 percent to 18 percent growth from the $5.72 billion in sales that 3M recorded for the 2009 second quarter.

Analysts on average are targeting $6.57 billion in sales, according to a survey by Thomson Reuters.

3M, which also makes over 1,000 products for cars including abrasives and paint finishings, has been focusing on booming markets in Asia and Latin America to drive its growth. In the first quarter, the company reported a surge in earnings driven mostly by international sales.

The manufacturer, based in St. Paul, Minn., will announce more details at an analyst meeting on Tuesday. 3M is scheduled to announce complete second-quarter results and its full-year outlook on July 22.