Deere posts 22% increase in fiscal Q1 profit

02/13/2013 | Reuters · Bloomberg · Wall Street Journal, The

Deere reported a 22% increase in fiscal first-quarter earnings, posting $649.7 million in the period that ended Jan. 31, compared with $532.9 million a year earlier. The company says gains in the turf- and agricultural-equipment segment helped offset weakness in the forestry and construction division. For the fiscal year, Deere expects sales of equipment to increase 6% and predicts $3.3 billion in net income.

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