Deere reports year-end profits
Boosted by double-digit increases in agricultural equipment, Deere & Co., Iowa’s largest manufacturing employer, reported fourth-quarter profits of $687.6 million, or $1.75 per share, in its fourth fiscal quarter, which ended Oct. 31. That compares to $669.6 million, or $1.62 per share, for the same period last year, reports DesMoinesRegister.com.
Deere had a net income of $3 billion in fiscal 2012, compared with $2.8 billion, in 2011. Worldwide net sales and revenues rose 14 percent, to nearly $9.8 billion, for the fourth quarter and increased 13 percent to $36 billion for the full year.
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