Deere, the world's largest maker of tractors and harvesters reported profit to the tune of $243.2 million or 57 cents a share in the first quarter against $203.9 million or 48 cents a share recorded corresponding quarter last year.

Deere & Co, a Construction and farming equipment manufacturer worldwide net sales and revenues slipped to $4.835 billion, for the first quarter or 6 % as compared to $5.146 billion same quarter last year. Company reported that Net sales of the equipment operations in the first quarter were $4.237 billion against $4.560 billion in corresponding quarter last year.

Its operating profit jumped mainly due to lower raw-material costs and improved price realization to $315 million for the quarter, compared with $307 million same quarter last year.

"Results for the quarter reflected solid execution of our operating and marketing plans throughout the company and are especially gratifying in light of global economic conditions that remain stubbornly weak," said Samuel R. Allen, president and chief executive officer. "We are clearly seeing benefit from efforts to win customers with advanced new products while taking cost and asset discipline to an even higher level."

Company sales volumes are expected to jump by 6 to 8 percent for fiscal 2010 and by 4 to 6 percent for the second quarter as compared to the same periods a year ago.