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You are here: Home / Agriculture / Deere shows better earnings in latest report

Deere shows better earnings in latest report

November 21, 2000 By admin

After a few lean years due to the faltering farm economy, ag equipment maker Deere and Company is reporting a turnaround for the just-ended fiscal year. Marie Ziegler, Deere’s director of investor relations, broadcast the earnings report this morning over the company’s Internet website.She says income doubled this year on a 15-percent gain in sales thanks to aggressive production cuts that were a response to difficult market conditions. Ziegler says Deere’s worldwide net income was 485-million dollars, compared to 239-million the previous year.Ziegler attributes some of the success to production cuts, the development of better products and last year’s voluntary retirement program.Moline, Illinois-based Deere is one of eastern Iowa’s largest employers with major factories in the Davenport and Waterloo areas.

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Filed Under: Agriculture, Business

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