Deere & Co. projects stronger 2011, fueled by clean air rules
Nov 29, 2010 | 01:50 PM
| Corinna Petry
Deere & Co. expects demand for its agricultural, forestry and construction machinery to grow significantly in the next 12 months, buoyed by strong prices for commodity minerals and crops, and by stricter global emission standards.
The Moline, Ill.-based company reported fiscal 2010 fourth-quarter revenue of $7.2 billion, a jump of 35.8 percent from $5.3 billion in the same 2009 period. For the 12 months ended Oct. 31, revenue totaled $22.6 billion, and Deere registered its second-highest ever level of sales and earnings. Annual revenues totaled $23.6 billion, up 13.5 percent from $20.8 billion in fiscal 2009
"It was a great quarter and a good year, and it puts the company in position for what we see as an even stronger performance in 2011," Susan Karlix, manager of investor relations, said during last week's call to investors.....
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