Johnson Controls, Inc. today reported record sales and income from continuing operations for its fiscal second quarter.
The diversified Glendale-based manufacturer's quarterly sales increased 11 percent to a record $9.4 billion from $8.5 billion in the same period last year.
The company's diluted earnings per share from continuing operations increased to 48 cents from 44 cents a year ago. The reported earnings per share are at the top of the range forecast by the company in January.
Each of the company's businesses increased quarterly profits by more than 25 percent compared with last year.
The company also confirmed its full-year 2008 earnings guidance of 18-percent year-over-year growth.
Johnson Controls chairman and chief executive officer Stephen Roell said, "We continue to deliver strong sales and earnings growth in each of our businesses. We are executing on our growth strategies and improving our productivity and cost structure. Our focus on delivering greater value by improving comfort, safety and sustainability and our increasing presence in growing international markets will enable us to achieve a record performance in 2008."
Roell added, "All three of our businesses participate in large, growing global markets. In addition, a significant portion of our revenues comes from recurring sources like commercial building services and aftermarket automotive batteries. Our business backlogs are strong and growing, giving us good visibility of our future earnings performance. We are focused on improving our cost structure, which will result in continued increases in the profitability of each of our businesses. With our diversified business portfolio, we are well positioned to achieve sustainable, profitable growth and are confident in our ability to achieve our financial targets."
Johnson Controls reports another record quarter
Operand type clash: text is incompatible with int
advertisement
Sorry, the story you tried to comment on is not accepting comments.