Iowa’s largest manufacturing employer is reporting a successful year.
For the quarter ending October 29th, the Moline, Illinois-based Deere & Company posted earnings of more than $510 million or $1.57 per share. That compares with $285 million or 90 cents per share a year ago.
Deere’s net income of more than $2 billion for the quarter bettered $1.5 billion a year ago. Worldwide net sales and revenues increased 23 percent for the fourth quarter and 12 percent for the full year. Deere says improving markets for farm and construction equipment contributed to the higher quarterly and full year results.
The company also says its performance shows continued benefits from advanced products and a flexible cost structure.
(By Phil Roberts, Davenport)