Net
income attributable to Deere fell to $285.3 million, or 90 cents
per share, in the fourth quarter ended on Oct. 31 from $351.2
million, or $1.08 per share, a year earlier.
Global net sales and revenue was $6.52 billion.
Analysts on average had expected net income at $119.62 million,
or 40 cents per share. Revenue was estimated to be $5.38
billion.
The company forecast total fiscal 2017 sales and revenue to be
down about 1 percent from $26.6 billion in fiscal 2016. Fiscal
2017 net income is expected to be about $1.4 billion.
Deere expected equipment sales to decrease about 1 percent for
total fiscal 2017 and down about 4 percent for the first quarter
compared with the same periods in 2016.
(Reporting by Meredith Davis in Detroit; Editing by Lisa Von Ahn
and Chizu Nomiyama)
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