 |
| CLICK HERE TO VIEW CURRENT ISSUE |
 |
| Best of NAMA 2025 |
|
 |
|
DEERE ISSUES OUTLOOK, EXPECTS EQUIPMENT SALES TO CLIMB 21% FOR THE YEAR
May 19, 2011
Source: John Deere news release
Company equipment sales are projected to be up 21 to 23 percent for fiscal 2011 and up about 20 percent for the third quarter compared with the same periods a year ago.
Included is a favorable currency-translation impact of about 3 percent for the year and about 6 percent for the quarter. For the full year, net income attributable to Deere & Company is anticipated to be about $2.650 billion.
The annual forecast includes a negative impact of approximately $300 million in sales and $70 million in operating profit resulting from the recent Japanese earthquake and tsunami.
According to Chairman and CEO Samuel Allen, the company's record of strong financial performance is helping support aggressive levels of organic growth. "Our consistent investment in new products and expanded global capacity puts the company on a solid footing for the future," he said.
"As a result, John Deere is well-positioned to address the world's growing need for agricultural commodities, shelter and infrastructure. We believe these developments will have a positive impact on demand for productive farm and construction equipment in the years ahead and hold exciting promise for the company well into the future."
|
|
|
|
|
