Deere & Company today announced worldwide net income of $436.0 million, or $1.85 per share, for the third quarter ended July 31, compared with $387.1 million, or $1.58 per share, for the same period last year. Income from continuing operations, which excludes the company's discontinued health-care business, was $435.7 million, or $1.85 per share, for the third quarter, versus $378.8 million, or $1.55 per share, last year.



"We are seeing continued benefit from our successful efforts to restrain costs and operate with lower assets," said Robert W. Lane, chairman and chief executive officer. "At the same time, the company's advanced new equipment and service offerings are bringing value and productivity to a growing, increasingly global group of customers."



For the first nine months, net income was $1.416 billion, or $5.96 per share, compared with $1.214 billion, or $4.89 per share, last year. Nine-month net income from continuing operations was $1.177 billion, or $4.95 per share, compared with $1.193 billion, or $4.81 per share, last year.



Worldwide net sales and revenues increased 8 percent to $6.267 billion for the third quarter, compared with a year ago, and increased 5 percent to $17.030 billion for the first nine months. Net sales of the equipment operations were $5.677 billion for the quarter and $15.398 billion for nine months, compared with $5.370 billion and $14.916 billion for the respective periods last year.



Source Deere & Co.