MOLINE, IL (February 23, 2006) — Deere & Company today updated its net income guidance for the second quarter and full fiscal year following this morning's announcement by the company of a debt tender offer of up to $500 million in cash.
Deere said it now expects net income to be in the range of $675 million to $700 million for the second quarter 2006. For the full year, the company now expects net income to be approximately $1.65 billion. Deere said that it continues to take a balanced approach to use of its cash by pursuing growth initiatives and returning cash to security holders.
Safe Harbor Statement
This document includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, including projections regarding net income, are based on current expectations and are subject to uncertainty and changes in circumstances. More detailed information about risks and uncertainties is contained in Deere & Company filings with the Securities and Exchange Commission.
