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CNH Global N.V. today announced financial results for the quarter ended June 30, 2013. Net sales for the quarter increased 9% (10% on a constant currency basis) to $5.5 billion. Equipment Operations posted an operating profit of $659 million or 12% of net sales for the quarter, as increased volumes and positive net pricing in the agricultural equipment segment more than compensated for the reduction in volume in the construction equipment segment, higher selling, general and administrative expenditures and higher research and development expense. The 33% effective tax rate for the quarter is within the Group’s full year 2013 forecast range of 31% to 34%.
Equipment net sales in the quarter comprised 83% agricultural equipment and 17% construction equipment. The geographic distribution of net sales in the quarter was 43% North America, 32% EAME & CIS, 17% Latin America, and 8% APAC markets.
Source: Rural lifestyle dealer