NEW YORK (MarketWatch) - Deere & Company DE, -0.17% said Wednesday its first-quarter profit ending January 31, was $649.7 million or $1.65 a share, up from $532.9 million, or $1.30 per share, from a year earlier. The equipment and tool maker's revenue was up 10% to $7.42 billion compared to $6.77 billion the year before. Net equipment sales were $6.80 billion compared to $6.12 billion a year earlier. This was the eleventh consecutive quarter of record earnings for the company, Chairman and Chief Executive Samuel R. Allen said in a statement. For 2013, the company expects equipment sales for fiscal 2013 to be up 6% and up 4% for the second-quarter versus the year-ago period. Net income is expected to be close to $3.3 billion for the fiscal year.