Summary Box: Deere 4Q net income jumps 46 percent

AP News
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Posted: Nov 23, 2011 2:46 PM
Summary Box: Deere 4Q net income jumps 46 percent

SOLID SUCCESS: Agricultural equipment maker Deere & Co. impressed investors Wednesday by reporting a 46 percent profit increase. The Moline, Ill., company reported net income of $670 million, or $1.62 per share.

GROWING PROFITS: Deere said it expects equipment sales to increase about 15 percent next year and profit to grow to $3.2 billion from this year's $2.8 billion.

EXPANDING EMPLOYMENT: To help meet growing demand, Deere's employment has grown about 10 percent over the past year to reach 61,000. A little more than half of Deere's employees are based in the U.S.