DEERE & CO Annual Report, Year Ended Oct 31, 2010

Deere & Company's (DE) 2010 10-K filing indicates a strong rebound in financial performance following a challenging economic period. The company reported a significant increase in net income attributable to Deere & Company to $1.865 billion for the fiscal year ended October 31, 2010, a substantial improvement from $873 million in 2009. This growth was driven by a 13% increase in total net sales and revenues to $26 billion, primarily fueled by higher shipment volumes and improved price realization across its Equipment Operations. The company's Construction and Forestry segment saw a particularly notable recovery, with net sales increasing by 41% and the segment moving from an operating loss in 2009 to an operating profit in 2010. The Agriculture and Turf segment also performed well, with net sales up 10% and operating profit increasing significantly. The Financial Services segment also showed improved profitability due to better financing spreads and a lower provision for credit losses. Looking ahead, Deere & Company projected continued sales growth in fiscal year 2011 across its segments, driven by favorable global farm conditions and expected improvements in construction and forestry markets. The company also highlighted its ongoing efforts to meet increasingly stringent engine emission standards, which required substantial research and development investment but are expected to lead to a record number of new equipment model introductions. The company's balance sheet remained strong, with positive cash flows from operations supporting investments and shareholder returns.