Deere's Construction & Forestry group posted a 22-percent gain in sales for the first quarter, with net sales for worldwide equipment operations up 11 percent, which includs a 4-percent price increase. Equipment net sales within the United States and Canada were up 5 percent; the rest of the world, 21 percent.
Company Outlook & Summary
Company equipment sales are projected to be up about 15 percent for fiscal 2012 and for the second quarter compared with the same periods of the previous year, Deere said. Deere expects worldwide sales of construction and forestry equipment to rise by about 18 percent for 2012. The increase reflects somewhat improved market conditions, growth in international markets, and strength in the rental, energy and material-handling sectors. In addition, Deere's sales are expected to be supported by a range of advanced new products and by geographic expansion.