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Source: John Deere news release

Company equipment sales are projected to decrease about 4 percent for fiscal 2014 and for the third quarter compared with the year-ago periods. Included is an unfavorable currency-translation effect of about 1 percent for the year.

For the fiscal year, net income attributable to Deere & Company is anticipated to be about $3.3 billion.

"John Deere expects to achieve near-record earnings for the full year and the company is well-positioned to deliver solid financial results throughout the business cycle," CEO Samuel Allen said.

"We're confident our extensive investments in new products and markets, coupled with a tight rein on costs and assets, will keep the company on a sound financial footing and help sustain our growth plans."

These plans are essential to meeting the world's growing need for food, shelter and infrastructure, he added, and they should lead to significant benefits for the company's investors and customers in the years ahead.

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