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AGCO reports 13% rise in net income to $3 billion in 2Q13

Posted: 8/1/2013 | Views: 438

AGCO, a worldwide manufacturer and distributor of agricultural equipment, reported net sales of approximately $3.0 billion during the second quarter of 2013, an increase of approximately 13.3% compared to net sales of $2.7 billion for the second quarter of 2012. Net income for the second quarter of 2013 was $2.15 per share. These results compare to net income of $2.08 per share for the second quarter of 2012. Excluding the unfavorable currency translation impact of approximately 0.5%, net sales in the second quarter of 2013 increased approximately 13.8% compared to the second quarter of 2012.

Net sales for the first six months of 2013 were approximately $5.5 billion, an increase of approximately 9.8% compared to the same period in 2012. Excluding the unfavorable impact of currency translation of approximately 1.5%, net sales for the first six months of 2013 increased approximately 11.3% compared to the same period in 2012. For the first six months of 2013, net income was $3.34 per share. This result compares to net income of $3.29 per share for the first six months of 2012.

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Source: Rural lifestyle dealer

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