Deere releases fourth quarter earnings

FILE - This June 8, 2014, file photo, shows the John Deere farming logo at a farming equipment dealership in Petersburg, Ill. Deere & Co. (DE) on Friday, Feb. 19, 2016 reported fiscal first-quarter profit of $254.4 million. (AP Photo/Seth Perlman, File) THE ASSOCIATED PRESS
FILE - This June 8, 2014, file photo, shows the John Deere farming logo at a farming equipment dealership in Petersburg, Ill. Deere & Co. (DE) on Friday, Feb. 19, 2016 reported fiscal first-quarter profit of $254.4 million. (AP Photo/Seth Perlman, File) THE ASSOCIATED PRESS

MOLINE, Ill. (KWQC) — Deere & Company has released its fourth quarter earnings report. Sales in the final quarter totaled $285 million. That’s down from more than $351 million in the fourth quarter of last year.

For the full year, sales totaled more than $1.5 billion, which is down from nearly $2 billion last year. Deere says the lower numbers are due to a global farm recession and weak construction equipment markets.

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