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Economy

Deere Reports Hopeful Signs

Deere & Company

Earnings fell but sales and revenue rose for Deere and Company during its first quarter. 

Friday the company reported net sales and revenue went up 2 per cent during November, December, and January, but net income fell 23 per cent to 61 cents per share from 80 cents a year ago.

Analysts has predicted earnings of 58 cents.

Spokesman Ken Golden says despite "soft conditions" in the farm and construction sectors, the company is seeing signs of improvement. 

"Farm income in the US is expected to increase slightly in 2017 - that's always good news for people who sell to farmers. For Construction and Forestry, it's the overall economy - gdp growth, housing starts, and several other areas that really are indicators for our construction and forestry business."

Three months ago, Deere projected equipment sales this year would fall 1 per cent, but now it's predicting a 4 per cent increase.  
 

A native of Detroit, Herb Trix began his radio career as a country-western disc jockey in Roswell, New Mexico (“KRSY, your superkicker in the Pecos Valley”), in 1978. After a stint at an oldies station in Topeka, Kansas (imagine getting paid to play “Louie Louie” and “Great Balls of Fire”), he wormed his way into news, first in Topeka, and then in Freeport Illinois.
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