Deere sales rise

Deere & Company (DE: chart) announced worldwide net income of $369.1 million, or $0.83 per share, for the first quarter ended January 31, compared with $238.7 million, or $0.52 per share, for the same period last year.

Worldwide net sales and revenues increased 18% to $5.201 billion for the quarter compared with $4.425 billion a year ago. Net sales of the equipment operations were $4.531 billion for the period compared with $3.815 billion last year.

Net sales of the worldwide equipment operations increased 19% for the quarter, including positive effects for currency translation and price changes of 6%. Equipment sales in the United States and Canada were up 9% for the quarter.

Net sales outside the United States and Canada increased 37% including currency translations gains 11%.

Equipment sales are projected to increase by about 17% for full-year 2008 and up 23% for the second quarter. Currency accounts for approximately 3% of the sales increase for both periods. Deere forecasted annual net income of $2.2 billion for the year and in a range of $700 million to $725 million for the second quarter.

Coca Cola earnings rise on international sales

The Coca-Cola Company (KO: chart) today reported fourth quarter earnings per share of $0.52, an increase of 79% versus the prior year on a reported basis, and $0.58 after considering items impacting comparability, an increase of 12%. Earnings per share for the quarter included a net charge of $0.06 per share primarily related to restructuring charges and asset write-downs.

Earnings per share for the fourth quarter of 2006 were $0.29 and included a net charge of $0.23 per share primarily related to a non-cash impairment charge at Coca-Cola Enterprises Inc., an equity investee.

Earnings per share for the year were $2.57, an increase of 19% versus the prior year on a reported basis, and $2.70 after considering items impacting comparability, an increase of 14%. Earnings per share for the year included a net charge of $0.13 per share primarily related to restructuring charges and asset write-downs.

Full year 2006 earnings per share were $2.16 and included a net charge of $0.21 per share primarily related to a non-cash impairment charge at CCE.

Unit case volume increased 5 percent in the quarter and 6 percent for the year. Acquisitions contributed 1 point of unit case volume growth for the quarter and year. International operations delivered 7 percent unit case volume growth in the quarter and 8 percent growth for the year, reflecting broad-based growth across all groups.

The Company continued to deliver strong growth in sparkling beverages, which increased unit case volume 4% in the quarter and for the year. Key brands drove the results with Coca-Cola growing unit case volume 3% in the quarter and 4% for the year. Brand Fanta increased unit case volume 4% for the quarter and 5% for the year, and Trademark Sprite increased unit case volume 4% in the quarter and 8% for the year.

Still beverage unit case volume increased 11% in the quarter and 12% for the year. Trademarks Dasani and Powerade continued their strong performance, each increasing unit case volume 9% in the quarter and 10% for the year.

PF Chang’s earnings edges higher

PF Chang’s (PFCB: chart) reported income from continuing operations per diluted share for the fourth quarter of fiscal 2007 was $0.37 compared to $0.35 for the fourth quarter of the prior year. Net income per diluted share was $0.28 compared to $0.34 in the prior year. The primary driver of the decline in net income per diluted share was the $0.08 asset impairment charge.

Consolidated income from continuing operations of $9.3 million for the fourth quarter ended December 30, 2007 compared to $9.0 million for the fourth quarter of the prior year. Net income for the fourth quarter of fiscal 2007 totaled $7.0 million compared to $8.8 million a year ago after including discontinued operations related Taneko, Japanese restaurant concept.

10:00AM New York, 7:30PM Mumbai - Sensex advanced 2.1% on earnings reports and a market rebound after a week of volatile global markets.

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