Johnson Controls Inc. announced today that it is projecting 2009 sales of $37 billion, about 3 percent less than its 2008 sales.
The Glendale-based company said it expects its diversified business portfolio and its ability to improve its cost structure to partially offset the difficult economic environment with its buildings and power businesses.
The company is forecasting diluted earnings per share of $1.95 to $2.10, approximately 10 to 16 percent lower than 2008, based on its projections of lower global automotive production.
The company said that the assumptions for lower lead prices and a weaker Euro will reduce 2009 sales by approximately $1.7 billion.
"We recognize that we are facing a challenging environment in our global markets," said Stephen Roell, chairman and chief executive officer of Johnson Controls. "At the same time, we are entering fiscal 2009 with record backlogs in our automotive and building efficiency businesses and confidence in our ability to improve our cost structure. Based on what we see today, we believe we can achieve solid financial performance during this volatile economic environment."
Johnson Controls said it plans to benefit in 2009 from its market-leading positions in growth markets, especially China, Eastern Europe and the Middle East.
Johnson Controls projects lower sales in 2009
Operand type clash: text is incompatible with int
advertisement
Sorry, the story you tried to comment on is not accepting comments.