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JOHN DEERE ISSUES FULL YEAR OUTLOOK
Aug. 16, 2012
Source: John Deere news release
Company equipment sales are projected to increase by about 13 percent for both fiscal 2012 and the fourth quarter compared with the same periods a year ago. Included is an unfavorable currency-translation impact of about 3 percent for the year and about 4 percent for the fourth quarter. For the full year, net income attributable to Deere & Company is anticipated to be about $3.1 billion.
"Global economic conditions and dryness in several key markets warrant some caution in coming months," said Deere CEO Samuel Allen.
"However, this year's drought could positively influence our outlook as it spotlights the need for John Deere's highly productive agricultural equipment. Our new John Deere products have been well received by customers around the world. This, combined with our increased focus on improved execution, gives us confidence that Deere is well-positioned to capitalize on favorable global agricultural trends over the long term."
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