Deere reports 3% increase in fiscal fourth-quarter earnings

Deere announced its fiscal fourth-quarter profit rose 3% to $687.6 million, as compared with $669.6 million a year earlier. The company took a $33 million write-down on its irrigation business. "Today's economic uncertainties are real and troubling and John Deere is taking serious precautions in response," said Rajesh Kalathur, senior vice president and chief financial officer at Deere.

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