AGCO Reports Strong Sales for First Six Months of 2012

By CnAgri2012-07-30 19:41:45 Print

AGCO, a worldwide manufacturer and distributor of agricultural equipment, reported net sales of approximately $2.7 billion for the second quarter of 2012, an increase of approximately 14.1% compared to net sales of $2.4 billion for the second quarter of 2011.

Reported and adjusted net income per share were $2.08 for the second quarter of 2012.

These results compare to reported net income per share of $1.36 and adjusted net income per share of $1.35 for the second quarter of 2011. Excluding unfavorable currency translation impacts of approximately 11.2%, net sales in the second quarter of 2012 increased approximately 25.3% compared to the same period in 2011.

Net sales for the first six months of 2012 were approximately $5.0 billion, an increase of 19.4% compared to the same period in 2011.

Excluding the unfavorable impact of currency translation of approximately 8.2%, net sales for the first six months of 2012 increased approximately 27.6% compared to the same period in 2011. For the first six months of 2012, reported and adjusted net income were $3.29 per share. These results compare to reported and adjusted net income of $2.17 per share for the first six months of 2011.