Date: Wednesday July 13, 2005 11:02:00 am
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3M to repatriate $1.7B
July 2005 – St Paul (MN): 3M has announced that it plans to reinvest $1.7 billion of foreign earnings in the US. The company will record a Q2 tax charge as a result. 3M said the tax charge will amount to $75 million and will reduce earnings for the quarter by $0.10 per share.
The company has forecast Q2 EPS of between $0.98 and $1.
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