Deere Swings to a Q4 Loss
Nov 25, 2009 (MarketNewsVideo.com via COMTEX) -- By MarketNewsVideo.com
Company: Deere & Co. (DE)
Deere & Co. (DE) posted a fourth quarter net loss of $222.8 million, or 53 cents per share, as compared to a net gain of $345 million, or 81 cents per share, in the same quarter last year.
Deere said adjusted earnings totaled 23 cents per share, on worldwide net sales and revenues down 28 percent, to $5.3 billion.
For the full year, Deere said its net gain was $2.06 per share, as compared to $4.70 per share in the prior fiscal year.
Deere CEO Samuel Allen emphasized that confronted with intense global economic pressure, the company managed to stay profitable for the year.
The company is forecasting net income of $900 million in fiscal year 2010.
The preceeding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=200911Deer112509&mv=1.
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Company: Deere & Co. (DE)
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