Deere posts earnings drop, rolls out fresh products

08/21/2009 | American Agriculturist · NYTimes.com

Deere & Co. reported earnings for its fiscal third quarter of $420 million, or 99 cents a share, down 27% from $575.2 million, or $1.32 a share, in the same period last year. The company attributed the slide to the recession and warned that it might post its biggest annual sales decline in at least 50 years. Deere said it still expects to earn $1.1 billion this year through cutting costs and healthy agricultural sales. Meanwhile, Deere unveiled tractor models and equipment offerings in advance of the fall season of farm-equipment shows.

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American Agriculturist · NYTimes.com