John DeereMedia Release & Financials 2007 4th

Deere reported record earnings for the fourth quarter and full year of 2007. Net income for the fourth quarter reached $422 million, up 52% from the previous year. For the full year, net income was $1.82 billion, up 7% from 2006. The improved results were driven by strong performance in Deere's agricultural operations due to higher sales volumes and improved pricing. Looking forward, Deere expects continued sales and profit growth in 2008, forecasting a 12% increase in equipment sales for the full year and 25% increase for the first quarter.