Deere posts higher quarterly profit

Wed Nov 21, 2012 7:08am EST

Nov 21 (Reuters) - Deere & Co, the world's largest farm equipment maker, reported a higher quarterly profit as stronger machinery sales in North America offset weaker international demand, and it forecast higher sales and earnings in fiscal 2013.

Deere posted net income of $687.6 million or $1.75 per share, for the fourth quarter ended Oct. 31, up from $669.6 million, or $1.62 per share, a year earlier.