Deere results drop in Q1

MOLINE, Ill. — Deere & Co. reported net income of $193.8 million, or $0.61 per share, for the first quarter, compared with $254.4 million, or $0.80 per share, a year ago. Worldwide net sales and revenues for the first quarter increased 2%, to $5.625 billion, compared with $5.525 billion last year. Net sales of the equipment operations were $4.698 billion for the quarter compared with $4.769 billion a year ago.