Deere & Co.’s second-quarter net income was down sharply compared with its year-ago results, reflecting the continuing impact of the global farm economy and further weakness in the construction equipment industry, the company reported today. Net income was $495.4 million, or $1.56 per share, for the second quarter ended April 30, compared with $690.5 million, or $2.03 per share, for the same period last year. Worldwide net sales and revenues decreased 4 percent, to $7.875 billion, for the second quarter. Net sales of the equipment operations were $7.107 billion for the quarter, compared with $7.399 billion for last year’s quarter. “In the face of challenging market conditions, Deere’s businesses benefited from the sound execution of operating plans, the strength of a broad product portfolio and our success creating a more flexible cost structure,” Chairman and CEO Samuel Allen said in a release.