3M post weaker-than-expected quarterly profit

3M Co. has posted a weaker-than-expected quarterly profit. This was mainly due to falling demand of optical film used in flat-screen monitors and TVs. Their other markets are also seeing a slowdown leading to falling sales.

3M Chief Executive George Buckley said in a statement during a conference call: “I do see early signs of uncertainty creeping into the U.S. economy and of course into the global picture.”

This happens to be the first time in more than four years that the company failed to boost operating margins year over year.

The net income for the company was up 17 percent, to $882 million, or $1.15 a share. 3M had already warned of weaker-than-expected second-quarter results earlier this month.

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