Net income attributable to Deere & Company was $1.056 billion, or $2.61 per share, for the second quarter ended April 30, compared with $904.3 million, or $2.12 per share, for the same period last year.
USDA reported that 87% of the 2012 corn crop was in the ground. This puts planting progress far ahead of last year's pace (56%) as well as that of the five year average (66%).
For the quarter ended March 31, 2012, Hemisphere GPS reported revenues of $22.6 million, a 7% increase from revenues of $21.2 million reported for the first quarter of 2011.
Yesterday, USDA reported that 7% of the U.S. corn crop is in the ground. This put it ahead of last year's progress, which showed 3% of corn planted at this time in 2011. The average pace during the past 5 years is only 2%.
For the year ended December 31, 2011, Hemisphere GPS (TSX: HEM) reported revenues of $67.8 million, a 21% increase from revenues of $56 million reported in 2010.
U.S. agricultural equipment exports increased 23% in 2011 compared to the previous year for a total $11 billion of machinery shipped to other nations, according to the Assn. of Equipment Manufacturers (AEM).
Farmers and analysts are expressing fresh skepticism about Agriculture Department data on the corn market in the wake of the latest figures, which stunned traders and sent prices on another wild ride.
Mahindra & Mahindra's Farm Equipment Sector (FES), a part of the U.S. $14.4 billion Mahindra Group, reports that domestic sales in January 2012 stood at 17,950 units vs. 19,430 units during January 2011.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we take a look at how the flooding in Texas will impact the ag industry and check in with some dealers in the region.
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