Deere Says 1Q Profit Up 4% on Strong Sales

Deere & Co. says strong equipment sales, particularly abroad, boosted quarterly net income by 4 percent and the company is raising its outlook for 2012.

The company posted first-quarter earnings Wednesday of $532.9 million, or $1.30 per share in its fiscal first quarter. That's up from $513.7 million, or $1.20 per share, last year.

Deere's quarterly revenue grew 11 percent to $6.77 billion from last year's $6.12 billion.

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