EmailDeere (DE $74.93 +2.94) reported fourth quarter earnings of $1.62 per share, $0.19 better than the Capital IQ Consensus Estimate of $1.43.
Revenues rose 20.4% year/year to $7.9 billion versus the $7.98 billion consensus.
Sales included a favorable currency-translation effect of 2 % for the quarter and 3 % for the year and price increases of 3 % for both periods. Equipment net sales in the United States and Canada rose 14 % for the quarter and 17 % for the year.
Outside the U.S. and Canada, net sales were up 31 % and 38 % for the respective periods, with favorable currency-translation effects of 4 % and 7 %. The company issued upside guidance for the first quarter with revenues of +16-18% YoY to approximately $6.40-6.51 billion versus the $6.17 billion consensus. The company issued upside guidance for fiscal year 2012 with revenues of +15% to approximately $33.89 billion versus the $32.16 billion consensus.
