BusinessMay 19, 1997
BUSINESS MEMO: RECORD DEERE EARNINGS
Deere & Co. has reported a 17 percent increase in profits, setting a new second-quarter record of $319.5 million. Deere earned $1.25 a share for the quarter ended April 30, up from $272.7 million, or $1.04 a share, a year earlier. Sales climbed 14 percent to $3.52 billion, compared with $3.09 billion a year ago...
Deere & Co. has reported a 17 percent increase in profits, setting a new second-quarter record of $319.5 million.
Deere earned $1.25 a share for the quarter ended April 30, up from $272.7 million, or $1.04 a share, a year earlier. Sales climbed 14 percent to $3.52 billion, compared with $3.09 billion a year ago.
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The Moline-based maker of construction and farming equipment has made a strong push to sell in the former Soviet Union, and that has been paying off. Export sales for the quarter totaled $547 million, up from $415 million a year earlier. Sales of foreign-built equipment also increased, rising 20 percent.
Agricultural equipment sales rose 19 percent to $1.9 billion.
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