Deere & Co (DE) reported fourth quarter worldwide net loss of $222.8 million, or $0.53 per share, compared with net income of $345.0 million, or $0.81 per share, for the same period last year.
The company noted that affecting fourth-quarter 2009 results were charges of $364.8 million pretax and $321.8 million after-tax, or $0.76 per share, due to the previously announced impairment of goodwill related to the John Deere Landscapes reporting unit and voluntary employee-separation expenses associated with the formation of the new agriculture and turf division. Without the items, earnings for the quarter would have been $99.0 million, or $0.23 per share.
On average, 20 analysts polled by Thomson Reuters expected the company to report earnings of $0.03 per share. Analysts' estimates typically exclude special items.
Total net sales and revenues declined to $5.33 billion from $7.4 billion in the prior year quarter.
Thirteen analysts estimated revenues of $4.44 billion.
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