Deere & Co. (DE) reported that its second-quarter net income attributable to company increased to $1.084 billion, or $2.76 per share, from last year's $1.056 billion, or $2.61 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $2.72 per share for the quarter. Analysts' estimates typically exclude special items.
Total net sales and revenues for the quarter rose to $10.914 billion, from $10.009 billion in the year ago quarter. Ten analysts had consensus revenue estimate of $9.81 billion for the quarter.
The company equipment sales are projected to increase by about 3 percent for the third quarter compared with the same quarter a year ago.
The company equipment sales are projected to increase by about 5 percent for fiscal 2013 compared with the same period a year ago. Included is an unfavorable currency-translation impact of about 1 percent for the year. Earlier, the company had expected equipment sales growth of about 6 percent.
For the full year 2013, net income attributable to company is still anticipated to be about $3.3 billion.
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