Deere & Co., Moline, Ill., last week reported net income of $532.9 million, or $1.30 per share, for the first quarter ended Jan. 31, compared with $513.7 million, or $1.20 per share, for the same period last year.

Worldwide net sales and revenues for the first quarter increased 11 percent, to $6.767 billion, compared with $6.119 billion last year. Net sales of the equipment operations were $6.119 billion for the quarter compared with $5.514 billion a year ago.

“By completing another quarter of record performance, John Deere has started 2012 on a strong note,” said Samuel Allen, chairman and CEO. “These results are evidence of the skillful execution of our operating and marketing plans. They also reflect an enthusiastic response by customers worldwide to our advanced lines of equipment. Maintaining such a high level of execution is especially noteworthy as we move ahead with major new-product launches and significantly expand our global market presence.” Over the last year, Allen pointed out, Deere introduced a record number of products and announced plans to build seven new factories throughout the world. The company also expanded or modernized additional locations in the U.S. and other countries.

Net sales of the worldwide equipment operations rose 11 percent for the quarter. Sales included price increases of 4 percent and an unfavorable currency-translation effect of 1 percent. Equipment net sales in the United States and Canada increased 5 percent for the quarter. Outside the U.S. and Canada, net sales were up 21 percent for the quarter, including an unfavorable currency-translation effect of 2 percent.

Deere’s equipment operations reported operating profit of $698 million for the quarter, compared with $646 million last year. Results benefited from price realization and higher shipment volumes, partially offset by increased production costs related to new products and more stringent engine-emission requirements, as well as higher raw-material costs.

Construction and forestry sales climbed 22 percent. Operating profit for the quarter was $124 million compared with $88 million a year ago. Contributing to the increase were higher shipment volumes as well as price realization, partially offset by higher raw-material costs.

Worldwide sales of agriculture and turf equipment are forecast to increase by about 15 percent for full-year 2012, including an unfavorable currency-translation effect of about 3 percent.