7 July 2006 – St Paul (MN): 3M has warned that it expects second-quarter profit to miss expectations, blaming high start-up costs in its optical systems division and weak demand for its optimal film.
The company expects to earn between $4.55 to $4.65 per share for the year. Analysts had been expecting the company to report earnings of $4.67 a share, according to Reuters Estimates.
3M estimates that Q2 sales will be about $5.7 billion. Analysts had expected sales of $5.72 billion.