Johnson Controls reports higher profit, sales

Special to The Freeman

April 23, 2014

GLENDALE – Johnson Controls Inc. on Wednesday said net income in its fiscal second quarter was $261 million, or 39 cents a share, up from $164 million, or 24 cents a share.

Total sales were $10.5 billion, up from $10.1 billion, which the company attributed in part to a gain in sales of automotive seats and interior products. Those sales helped offset declines in the building efficiency and air conditioners business and flat sales in the company’s automotive battery business, the company said.

“While the economic environment continues to challenge top line growth in some of our businesses, I am pleased with the profitability improvements in all businesses" said Alex Molinaroli, Johnson Controls chairman and chief executive officer. “These results are consistent with the expectations we disclosed during our first quarter earnings call.”

According to Johnson Controls, the company is targeting earnings from continuing operations this year to be $3.10 to $3.15 per share, and 81 to 84 cents in the third quarter.

Glendale-based Johnson Controls is a global diversified technology and industrial company and serves customers in more than 150 countries.

www.johnsoncontrols.com