Equipment manufacturer Deere & Company has reported net income of $687.6 million, or $1.75 per share, for the fourth quarter ended 31 October 2012, up from $669.6 million, or $1.62 per share, for the same period last year.
For fiscal 2012, net income attributable to Deere & Company was $3.065 billion, or $7.63 per share, compared with $2.800 billion, or $6.63 per share, in 2011.
Worldwide net sales and revenues rose 14 percent to $9.792 billion for the fourth quarter and increased 13 percent to $36.157 billion for the full year. Net sales of the equipment operations were $9.047 billion for the quarter and $33.501 billion for the year, compared with $7.903 billion and $29.466 billion for the same periods in 2011.
"In the face of continuing global economic pressure, John Deere has completed another record year," said Samuel R. Allen, chairman and chief executive officer. "Our success reflects positive customer response to our lines of innovative equipment coupled with extensive efforts to expand our global competitive position."
During the year, Deere opened or moved ahead with new factories in China, India, and Brazil. In the US the company announced capacity expansions for tractors, sprayers, and cylinders.
