Deere Projects Flat 2009 Sales

"In the face of highly uncertain global economic conditions, John Deere has completed a fifth consecutive year of record earnings, reflecting our efforts to build and grow a great business," said Robert W. Lane, chairman and chief executive officer. Agricultural equipment operations had their best year ever in 2008, he pointed out, and the company's other equipment businesses remained solidly profitable on a full-year basis. "Demand for productive agricultural machinery has continued to be strong due in large part to the financial health of the farm sector, which has remained positive to date," Lane said. "Deere's performance has received further support from our successful credit operation, which is benefiting from strong asset quality and continued low losses."