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3M Confirms Last Week's Disclosure: Earnings Missed Estimates

Minnesota Mining & Manufacturing

(MMM) - Get 3M Company Report

said Wednesday that its fourth-quarter earnings were in line with the numbers announced last week, which fell short of Wall Street's expectations.

The company, a component of the

Dow Jones Industrial Average

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, confirmed earnings of $477 million, or $1.12 a share, up from $444 million, or $1.10 a share, in the year-ago period.

Last week, the company said it wouldn't meet the

First Call/Thomson Financial

consensus estimate of $1.20 a share because of the slowing economy.

Shares of the diversified technology company, which is based in St. Paul, Minn., lost $2, or 1.8%, to $109 in recent

New York Stock Exchange

trading.