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John Deere reports strong 4th quarter and 2017

Deere and Company says improving markets for farm and construction equipment gave them a solid fourth quarter and improved 2017 profitability.

Public Relations Director Ken Golden says worldwide net sales and revenues increased 23 percent for the fourth quarter and was up 12 percent for the full year, totaling $29-point-7 billion dollars.

Golden says Agriculture and turf product sales increased 22 percent for the quarter and 9 percent for the year. He says part of that was higher overall farm machinery demand in South America and the EU, as well as a sharp rise in construction equipment sales.

Deere’s equipment operations profited $669 million for the 4^th quarter and $2-point-8 billion for the full year.  Golden also projects a 2018 net income of 2-point-6 billion and profits from the pending December acquisition of the Wirtgen Group of highway construction and maintenance machines.