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nanotimes

Companies

Companies – Summaries

Facts

3

M (NYSE: MMM) reported first-quarter earnings of $1.29 per share on sales of $6.3 billion. Ope-

rating income margins were 22.8%, up 7% points year-on-year. Sales and per-share earnings increased 24.7% and 74.3%, respectively, versus the first quar- ter of 2009. Included in first-quarter 2010 earnings was a one-time, non-cash income tax charge of $84 million, or 11 cents per share, resulting from Medica- re Part D changes imbedded in the recently enacted Patient Protection and Affordable Care Act. Exclu- ding this charge, first-quarter 2010 earnings were $1.40 per share, also a record for any first quarter in 3M’s history. First-quarter 2009 earnings included restructuring-related charges of $45 million after tax, or 7 cents per share.

For the second consecutive quarter, 3M increased its full-year 2010 performance expectations. The company now expects organic sales volumes to grow 10 to 12% versus a prior expected range of 5 to 7%. Operating income margins, previously anticipated to be in the range of 21 to 22%, are now expected to exceed 22% for the year. Finally, the company expects that per-share earnings will be in the ran- ge of $5.40 to $5.60, excluding the Medicare Part D-related charge, versus a prior expected range of $4.90 to $5.10.

http://www.3m.com

cacia Research (NASDAQ: ACTG) reported record quarterly license fee revenues of $39, 772,000 during the first quarter of 2010, as com-

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pared to $16,957,000 in the comparable prior year quarter. Trailing twelve-month revenues totaled $90.2 million as of March 31, 2010, as compared to $67.3 million as of December 31, 2009, $65.7 milli- on at September 30, 2009, $63.4 million as of June 30, 2009 and $56.1 million as of March 31, 2009.

Acacia Research reported first quarter 2010 net income of $18,512,000, or $0.55 per diluted share, as compared to a quarterly net loss of $268,000, or $.01 per diluted share for the comparable prior year quarter. Included in first quarter 2010 net results are non-cash stock compensation and patent amortiza- tion charges totaling $3,598,000, as compared to $2,985,000 of non-cash charges in the comparable prior year quarter. First quarter 2010 revenues inclu- ded license fees from 40 new licensing agreements covering 29 of Acacia‘s technology licensing pro- grams, as compared to 28 new licensing agreements covering 16 of the technology licensing programs in the comparable prior year quarter. First quarter 2010 revenues included initial license fee revenues for 13 of Acacia‘s technology licensing programs, as compa- red to initial license fees for 4 of technology licensing programs in the comparable prior year quarter.

Furthermore, Acacia‘s subsidiary, Network Gateway Solutions LLC, has entered into a settlement agree- ment with Metaswitch, Inc. This agreement resolves patent litigation.

http://www.acaciaresearch.com

10-04 :: April 2010