Johnson Controls Reports Record 2Q Earnings

By: Associated Press
By: Associated Press

MILWAUKEE (AP) -- Johnson Controls Inc. is reporting a 29 percent jump in earnings on a 22 percent increase in revenue for the fiscal second quarter as sales of auto parts, batteries and building climate control grew as the economy recovered.
The Milwaukee company raised its full-year revenue guidance but warned that higher climate control sales will be offset next quarter by auto production cuts due to the earthquake in Japan.
The company said Monday its net income rose to $354 million, or 51 cents a share, for the quarter ending March 31. That's up from $274 million, or 40 cents per share, a year ago.
Revenue rose 22 percent to $10.1 billion.
Excluding acquisition and restructuring costs, the company said it earned 56 cents per share. Analysts polled by FactSet expected 55 cents on revenue of $9.4 billion.


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