Iowa Public Television


John Deere Profits Rise

posted on November 24, 2006

John Deere and Co.'s fiscal fourth-quarter profit sent its stock up 5 percent, to a new high for the year. Earnings for the quarter that ended October 31 increased to $277.3 million, or $1.20 per share.

Deere chairman and CEO, Robert Lane, said the company's efforts to control costs and inventories boosted earnings at a time when sales were flat.

The company said sales of its trademark green-and-yellow farm equipment and its commercial products each dipped 1 percent for the quarter, but sales of its construction and forestry machinery rose 3 percent.

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