ABJ - November 23 - Net income attributable to Deere & Company was $669.6 million, or $1.62 per share, for the fourth quarter ended October 31, compared with $457.2 million, or $1.07 per share, for the same period last year.

For fiscal 2011, net income attributable to Deere & Company was $2.8 billion, or $6.63 per share, compared with $1.865 billion, or $4.35 per share, last year.

Worldwide net sales and revenues increased 20 per cent, to $8.612 billion, for the fourth quarter and were up 23 per cent to $32.013 billion for the full year. Net sales of the equipment operations were $7.903 billion for the quarter and $29.466 billion for full-year 2011, compared with $6.564 billion and $23.573 billion for the corresponding periods last year.

"John Deere has completed another year of exceptional achievement," said Samuel Allen, Chairman and CEO, Deere & Company. "Our success reflects a continued pattern of strong customer response to our innovative lines of equipment coupled with the skillful execution of business plans aimed at expanding our global competitive position."

During the year, Deere introduced a record number of products and announced plans for six new factories, in China, Brazil, and India. "John Deere's record performance is a further tribute to our operating model, which stresses rigorous cost management and asset efficiency," Allen stated. "As a result, we are achieving unprecedented financial results and generating healthy levels of cash flow. These dollars are funding growth throughout the world and also are being shared directly with investors in the form of dividends and share repurchases."

Net sales of the worldwide equipment operations increased 20 per cent for the quarter and 25 per cent for the year. Equipment net sales in the United States and Canada rose 14 per cent for the quarter and 17 per cent for the year. Outside the U.S. and Canada, net sales were up 31 per cent and 38 per cent for the respective periods, with favorable currency-translation effects of four per cent and seven per cent.