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Shauna O'Brien Feb 20, 2015
The company reported earnings of $387 million, or $1.12 per share, down from $681 million, or $1.81 per share, last year. Analysts expected to see EPS of 83 cents.
Revenue dropped 19% to $5.6 billion from $6.95 billion. Analysts expected to see $5.54 billion in revenue.
Looking ahead to FY2015, the company expects to see net income of $1.8 billion. Previously, the company expected to see $1.9 billion in profits.
Deere & Company has cut production to account for the weakening demand of its products. Despite the drop in demand, farm equipment still made up about two-thirds of its sales in the first quarter.
|VTSMX||Vanguard Total Stock Market Index||1.79%|
|VFINX||Vanguard 500 Index||1.15%|
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