AGCO SALES UP
AGCO posted a positive 2004 earnings report. The company reported a net income per share of $0.52/share for the fourth quarter. This is up from $0.39/share in 2003. Net sales for the full year of 2004 at $5.3 billion is a 51% increase over 2003 sales.
AGCO CEO Martin Richenhaen reported that “sales growth and cost reduction were keys to [AGCO's] higher profitability. Stronger markets in North and South America contributed to achieving 14% sales growth, excluding currency and acquisitions in 2004.”