Deere Earnings Up

Deere & Co., Moline, Ill, completed 2011 on a record note with fourth-quarter earnings of $669.6 million, or $1.62 per share, for the fourth quarter ended Oct. 31, up from $457.2 million, or $1.07 per share, for the same period last year.

For fiscal 2011, net income attributable to Deere & Co. was $2.800 billion, or $6.63 per share, compared with $1.865 billion, or $4.35 per share, last year.

Worldwide net sales and revenues increased 20 percent, to $8.612 billion, for the fourth quarter and were up 23 percent to $32.013 billion for the full year. Net sales of the equipment operations were $7.903 billion for the quarter and $29.466 billion for full-year 2011, compared with $6.564 billion and $23.573 billion for the corresponding periods last year.

“John Deere has completed another year of exceptional achievement,” said Samuel R. Allen, chairman and chief executive officer. “Our success reflects a continued pattern of strong customer response to our innovative lines of equipment coupled with the skillful execution of business plans aimed at expanding our global competitive position."

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