John Deere reports record earnings</

May 15, 2013

John Deere announces Q2 earnings of $1.084B

Global agricultural machinery giant Deere & Co. recently announced its second-quarter earnings of $1.084 billion. Sales and income reached new single-quarter records.

Compared to last year, net income was $1.056 billion, or $2.61 per share. The second quarter ended April 30. For first-quarter earnings, net income attributed to $1.734 billion, or $4.41 per share compared to last year’s earnings of $1.589 billion, or $3.91 per share. Net sales and revenues worldwide increased by 9 per cent to $10.914 billion in the second quarter.

The agriculture and turf division sales increased 12 per cent for the second-quarter, while the construction and forestry division decreased 6 per cent. The outlook for agriculture and turf is forecasted to increase by 7 per cent for fiscal 2013. The construction and forestry division is expected to decrease by about 5 per cent for 2013.

Chairman and chief executive officer Samuel R. Allen said that after a record-setting quarter, the company is poised for another strong year of performance. Allen says that the numbers reflect the positive global conditions of the farm economy.

Video: Finding a Balance of Innovation and Regulation - Dr. Peter Facchini

Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

Dr. Peter James Facchini leads research into the metabolic biochemistry in opium poppy at the University of Calgary. For more than 30 years, his work has contributed to the increased availability of benzylisoquinoline alkaloid biosynthetic genes to assist in the creation of morphine for pharmaceutical use. Dr. Facchini completed his B.Sc. and Ph.D. in Biological Sciences at the University of Toronto before completing Postdoctoral Fellowships in Biochemistry at the University of Kentucky in 1992 & Université de Montréal in 1995.