DE: DE announces Q3 results

DE announces Q3 results

Deere & Company posted a 47% increase in income for the third quarter of 2010, driven primarily by a 16% gain in revenues and net sales. This income totaled $617.0 million for the quarter as compared to $420.0 million from the same quarter last year. Net sales and revenues totaled $6.837 billion; net sales for equipment operations in particular were $6.224 billion as compared to $5.283 billion in the third quarter of 2009. Driving increases in sales and revenues were 2% increases in prices of sold goods as well as 19% and 16% increases in the US and Canada as well as in the rest of the world respectively. Operating profit increased from $452 million in the third quarter of 2009 to $890 million for the third quarter of 2010.

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