John Deere is off to a good start in 2012, reporting first-quarter (ending Jan. 31, 2012) equipment sales and revenues of $6.767 billion, an increase of 11 percent compared to the same period last year.
Equipment net sales in the United States and Canada increased five percent for the quarter. Outside the U.S. and Canada, net sales were up 21 percent.
John Deere’s sales success led to record first-quarter earnings of $532.9 million.
“By completing another quarter of record performance, John Deere has started 2012 on a strong note,” says Samuel R. Allen, chairman and chief executive officer. “These results are evidence of the skillful execution of our operating and marketing plans. They also reflect an enthusiastic response by customers worldwide to our advanced lines of equipment. Maintaining such a high level of execution is especially noteworthy as we move ahead with major new-product launches and significantly expand our global market presence.”
Allen went on to say that John Deere introduced a record numbe of products and announced plans to build seven new factories throughout the world.
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