Deere reports 19 percent increase in fourth quarter

Deere and Company announced worldwide net income of $277.3 million, or $1.20 per share, for the fourth quarter which ended October 31. The results compare with $232.8 million, or $0.96 per share, for the same period last year. Income from continuing operations was $276.7 million, or $1.20 per share, for the quarter, compared with $220.7 million, or $0.91 per share, last year.
For the full year, net income was $1.694 billion, or $7.18 per share, compared with $1.447 billion, or $5.87 per share, a year ago. Full-year income from continuing operations was $1.453 billion, or $6.16 per share, compared with $1.414 billion, or $5.74 per share, last year.
Worldwide net sales and revenues increased 3 percent for the quarter, to $5.118 billion, and increased 5 percent for the year, to $22.148 billion. Net sales of the equipment operations were $4.486 billion for the quarter and $19.884 billion for the year, compared with $4.486 billion and $19.401 billion for the respective periods of 2005.