updated 1/30/2007 8:18:41 AM ET 2007-01-30T13:18:41

3M Co., the diversified maker of products such as Scotch tape, Post-it notes and weather-stripping, said Tuesday its earnings jumped 58 percent in the fourth quarter helped by a gain on the sale of a pharmaceutical business. But the results without the gain were at the low end of its guidance.

The said it earned $1.18 billion, or $1.57 per share, in the three months ended Dec. 31, up from $746 million, or 97 cents per share during the same period last year. Revenue rose 8.4 percent to $5.78 billion, up from $5.33 billion during the same period last year.

The fourth-quarter results include a gain of $354 million, or 47 cents per share, from selling the pharmaceutical business. Also, last year’s fourth quarter was reduced by $35 million, or 4 cents per share, because of an accounting change.

Analysts surveyed by Thomson Financial were expecting earnings per share of $1.14 for the fourth quarter. Without the sale of the pharmaceutical unit 3M would have earned $1.10 per share. That would put it at the low end of its guidance of $1.10 to $1.16 per share in October.

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