By
Michael Olsen (TMFagewone)
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More Articles
January 24, 2006
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On Jan. 24, 2006, Motley Fool Inside Value pick 3M (NYSE: MMM ) released Q4 2005 earnings for the period ended Dec. 31, 2005.
- Net income and earnings per share were affected by stock options-related expenses for the current quarter and full year. Earnings per share net of that came in at $1.04, compared with $0.91 in the prior-year period.
- Local currency sales rose 7.3%, and currency effects negatively affected sales to the tune of 2.7%. Volume growth in sales was negative on an organic basis (down 1.4%), driven by the strength of price increases (3.2%) and the impact of acquisitions.
- Sales were driven by strong results in its Industrial and Electro & Communications units, where local currency results climbed 18.2% and 10.9%, respectively. Industrial results got a boost from the company's CUNO acquisition, which contributed 12% to sales growth.
(Figures in millions, except per-share data)
Income Statement Highlights
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Avg. Est.
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Q4 2005
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Q4 2004
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% Change
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Sales
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$5,325
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$5,325
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$5,091
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+4.6%
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Net Profit
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--
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$761
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$720
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+5.7%
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EPS
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$0.99
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$0.99
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$0.91
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+8.8%
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Get back to basics with a look at the income statement.
Margin Checkup
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
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Assets
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Q4 2005
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Q4 2004
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% Change
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Cash + ST Invest.
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$1,072
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$2,757
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-61.1%
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Inventory
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$2,162
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$1,897
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+14.0%
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Accounts Rec.
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$2,838
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$2,792
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+1.6%
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Liabilities
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Q4 2005
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Q4 2004
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% Change
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Long-Term Debt*
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$2,381
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$2,821
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-15.6%
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Accounts Pay.
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$1,256
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$1,168
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+7.5%
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*
Long-term debt numbers include short-term/current portion of long-term debt.
Cash Flow Highlights
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Q4 2005
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Q4 2004
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% Change
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Cash From Ops.
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$4,258
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$4,282
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-0.6%
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Capital Expend.*
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$2,236
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$1,010
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+121.4%
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Free Cash Flow
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$2,022
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$3,272
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-38.2%
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*Capex numbers include the effect of cash acquisitions -- $1.2 billion in the most recently ended period and $73 million in the period prior.
Find out why Fools always follow the money.
Related Companies:
- General Electric (NYSE: GE )
- United Technologies (NYSE: UTX )
- Avery Dennison (NYSE: AVY )
- Johnson & Johnson (NYSE: JNJ )
- Bayer AG (NYSE: BAY )
Related Foolishness:
Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all of the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.
At the time of publication, Michael Olsen owned shares in 3M. Fool rules are here.
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