Diversified U.S. manufacturer 3M Co
The company anticipates 2009 earnings per share, excluding items, between $4.50 and $4.55 per share, below analyst estimates of $4.57 per share, according to Thomson Reuters I/B/E/S.
For 2010, 3M expects earnings in the range of $4.85 per share to $5.00 per share on sales of $24.5 billion to $25.5 billion, which tops analyst estimates of $24.46 billion.
Analysts' earnings estimates of $4.94 per share, according to Thomson Reuters I/B/E/S, fall in the upper end of the company's projected range.
3M will increase investment in research and development, Chief Executive George Buckley said in a statement.
As always, we will continue to carefully manage our costs as we invest, he said.
(Editing by Maureen Bavdek, editing by Dave Zimmerman)