John Deere Net Improves in Fiscal 2005

NEW YORK - Nov 22/05 - SNS -- Deere & Company reported net income of U.S. $233 million on sales of $5.177 million during the fourth quarter ending October 31, compared to a net of $357 million on sales of $5,207 million during the same three month period last year.

This lifted net earnings for the fiscal year to $1,447 million on sales of $21,931 million, compared to a net of $1,406 million on sales of $19.,986 million during the previous fiscal year.

Excluding the effect of currency translation and price realization, the company's worldwide equipment sales were down 5% for the quarter and up 5% for the year. On a reported basis, equipment sales in the U.S. and Canada declined 2% for the quarter and rose 10% for the year.

Outside the U.S. and Canada, equipment sales declined by 6% for the quarter and rose by 6% on a full-year basis excluding currency translation. Equipment sales outside the U.S. and Canada on a reported basis fell 5% for the quarter and increased 10% for the year.

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