Revenue increases for Johnson Controls in 4Q

Special to The Freeman

Oct. 30, 2014

MILWAUKEE — The fourth quarter ended on a positive note for Johnson Controls, which reported net revenues of $11 billion versus $10.7 billion during the fourth quarter of 2013, an increase of 3 percent, according to a Thursday company announcement.

Johnson Controls, a global multi-industrial company, said net income from continuing operations were $311 million, or $0.46 per share, on $11 billion in revenues during the fourth quarter of 2014.

The company experienced record income from business segments of $983 million compared with $889 million a year ago, up 11 percent, when excluding restructuring and non-recurring items in the 2014 and 2013 fiscal fourth quarters. Other non-GAAP highlights, according to Johnson Controls, include diluted earnings per share from continuing operations of $1.04 versus $0.91 in the same quarter last year, up 14 percent.

“We ended fiscal 2014 with solid contributions from all of our primary businesses, continuing the strong performance we have seen throughout the year,” said Alex Molinaroli, Johnson Controls chairman and chief executive officer. “While the macro-economic environment continues to be challenging in some key markets, each of our businesses generated top line growth in the fourth quarter. Importantly, Building Efficiency orders were higher for the first time in a year. During the quarter, we announced a number of organizational and management changes that we believe will drive further improvements in shareholder value in 2015 and beyond.”