Deere recorded liquid profits of US $510,3 my not 4th tri fiscal 2017

American farm machinery maker Deere & Company recorded net income of $ $510.3 million in the fiscal fourth quarter, ended October 29. The result represents high of 79% compared to the same period performance of 2016, when the company earned $ $285.3 million. The diluted earnings per share was $ $1.57 in the quarter, an increase of 74.4% compared with a year earlier. In fiscal year 2017, net income was $ $2.159 billion (US $ $6.68 per share), a growth of 42% compared with the cumulative 2016.
Sales revenue reached US $ $7.09 billion in the range from August to October, 26 percent advance in annual comparison. Of this total, the agricultural equipment segment and for lawns accounted for $ $5.43 billion of total revenue, an increase of 22% over the same period to 2016.
For the fiscal year 2017, was $ $25.88 billion, 11% higher than the $ $23.38 billion recorded in 2016. The agricultural sector, the main segment of the company, represented $ $20.16 billion of the total, getting 9% gain compared to last year. However, it is worth highlighting the advancement of 17% in the construction sector revenues in 2017, which reached US $ $5.72 billion.
"We saw a global demand for our products. Sales of agricultural machinery in South America had especially strong gains and the sale of construction equipment have increased sharply, "Deere President and CEO Samuel r. Allen. At the same time, according to the Executive, the company made continuous benefits in your portfolio of products and let the cost structure more agile.
For the fiscal year 2018, Deere provides around 9% in overall sales of agricultural equipment and for lawns, including a foreign exchange effect of approximately 2%. Trade in tractors and harvesters in South America should be carried over between stability and a high of 5% next year, as a result of continued positive conditions, particularly in Argentina.
In the North American market, the United States and Canada, it is estimated elevation between 5% and 10% in the agricultural segment sales in 2018, supported by greater demand for large products. In the European Union, the marketing tends to grow 5 percent bolstered by favourable conditions in livestock and dairy products. In Asia, sales are foreseen with India making up for the weakness in business with China.