Deere announced late in November that they would be releasing information on their 4th quarter earnings and held a conference to discuss the details. Speakers at the conference included, Chief Financial Officer Mike Mack, Vice President Marie Ziegler and Manager Susan Karlix.

While 4th quarter earnings wordwide were down $0.13 a share from last year overall total net income for the full year was a record $2.053 billion compared to just $1.822 billion last year. Worldwide sales and revenues increased 21 percent ending with $7.401 billion. This is Deere’s 5th consecutive year of record net income which is great to hear considering the current economy’s unstable environment.

It was reported that Agricultural sales increased 43% for the 4th quarter while Commercial & Consumer divisions sales decreased 11% and Construction & Forestry divisions closed out with an increase of 3% over last year. Operating profit was lower in the 4th quarter due to the fact that raw materials are running at a higher costs then previously suggested.

Read more information about Deere’s 2008 Fourth Quarter earnings as well as listen to an AudioCast replay of the presentation.