-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FBywhJCbXcad10THqVT77xGSY/umc4p72fxu6lsa/0dq2qMsZCDcKuLsmVhJa8Tc 4oFj4Kex/Z1nCbF1FHMIGg== 0000066740-98-000006.txt : 19980617 0000066740-98-000006.hdr.sgml : 19980617 ACCESSION NUMBER: 0000066740-98-000006 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980615 ITEM INFORMATION: FILED AS OF DATE: 19980616 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MINNESOTA MINING & MANUFACTURING CO CENTRAL INDEX KEY: 0000066740 STANDARD INDUSTRIAL CLASSIFICATION: ABRASIVE ASBESTOS & MISC NONMETALLIC MINERAL PRODUCTS [3290] IRS NUMBER: 410417775 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-03285 FILM NUMBER: 98649294 BUSINESS ADDRESS: STREET 1: 3M CENTER CITY: ST PAUL STATE: MN ZIP: 55144-1000 BUSINESS PHONE: 6127331110 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: June 15, 1998 (Date of earliest event reported) MINNESOTA MINING AND MANUFACTURING COMPANY (Exact name of registrant as specified in its charter) File No. 1-3285 (Commission File Number) Delaware 41-0417775 (State of incorporation) (I.R.S. Employer Identification Number) 3M Center 55144-1000 St. Paul, Minnesota (Zip Code) (Address of principal executive offices) Registrant's telephone, including area code: (612) 733-1110 ITEM 5. OTHER EVENTS. In a release dated June 15, 1998, the Registrant announced that it expects second-quarter earnings to be below those in the same quarter last year. The news release also contained forward-looking statements relating to 1998 and the second-half of 1998. The news release is attached as Exhibit 99 and incorporated by reference herein. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits Required by Item 601 of Regulation S-K EXHIBIT NO. DESCRIPTION ---------- ----------- 99 News Release dated June 15, 1998 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on the date indicated. MINNESOTA MINING AND MANUFACTURING COMPANY By: /s/ Janet L. Yeomans -------------------- Janet L. Yeomans, Vice President and Treasurer Dated: June 15, 1998 EXHIBIT INDEX EXHIBIT DESCRIPTION - ------ ----------- 99 Press Release dated June 15, 1998, EX-99 2 Exhibit 99 Contact Jon Greer 612-736-1915 FOR IMMEDIATE RELEASE 3M Discusses Second-Quarter Outlook ST. PAUL, MINN. - JUNE 15, 1998 -- 3M said today that -- due to economic weakness in Japan and Asia, modest overall U.S. growth and the increasing strength of the U.S. dollar-- the company expects second-quarter earnings to be below those in the same quarter last year. Earnings are estimated to be in the range of 90 to 94 cents per share on a diluted basis. The company estimates that currency effects will reduce second-quarter earnings by more than 10 percent. In the second quarter last year, 3M earned $418 million, or 99 cents per share on a diluted basis. "We have a strong presence in Japan and Asia, and our businesses continue to be affected by the economic contractions in that area," said L.D. DeSimone, chairman and chief executive officer. "In the United States, we continue to see good demand in several businesses, paced by new products, but softness in electronics and certain other industries has held back overall growth." Looking ahead, 3M said it expects higher second-half earnings, but profits for the year as a whole are expected to be similar to the company's 1997 earnings. In 1997, earnings from continuing operations totaled $1.63 billion, or $3.88* per share on a diluted basis. "At this juncture, we're assuming that Japan and Asia will remain weak, the growth of the U.S. economy will slow somewhat in the second half and the U.S. dollar will remain strong," DeSimone said. Currency, at current exchange rates, will reduce full-year earnings by an estimated 10 percent. 3M will report results for the second quarter on July 23. * Excludes gain on sales of National Advertising Company FORWARD-LOOKING STATEMENTS Certain portions of this news release that do not relate to historical financial information constitute forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties. Actual future results and trends may differ materially from historical results or those expected depending on a variety of factors, including (1) foreign exchange rates and fluctuations in those rates; (2) worldwide economic growth, particularly in Japan and the Asia region; (3) raw materials, including shortages and increases in the costs of key raw materials; (4) legal proceedings; and (5) the impact of the Year 2000 issue. -----END PRIVACY-ENHANCED MESSAGE-----