Deere & Co. reported a 43% decline...

Deere & Co. reported a 43% decline in its profits for the final quarter of its 1985 fiscal year, blaming the continuing problems of the agricultural economy for weak farm equipment sales. The company, which is a leading manufacturer of farm equipment, said fourth quarter revenue declined to $1.1 billion from $1.2 billion a year earlier. Robert A. Hanson, chairman of the company, said that in addition to the depressed farm economy Deere’s total sales and profit margins dropped because of intense competition in the farm equipment industry and the costs of sales incentives to Deere retailers.