Deere lowers 2009 guidance; Q1 profit drops

02/18/2009 | Bloomberg

Deere & Co. posted net income of $203.9 million for the first quarter, a 45% drop from the same quarter last year. The 48 cents earnings per share missed analysts' estimates of 62 cents. The equipment manufacturer also lowered its 2009 full-year forecast to $1.5 billion from a previous estimate of $1.9 billion.

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