April 20. 2012 10:00AM - Last modified: April 20. 2012 10:32AM

Johnson Controls reports record quarterly sales

Johnson Controls Inc. today announced fiscal second quarter net income of $364 million, or 53 cents per share, up from $354 million, or 51 cents per share, in the same period a year ago.

The Glendale-based company reported record net sales of $10.6 billion, up from $10.1 billion a year earlier.
"As we stated at the start of the quarter, Johnson Controls faced a mix of opportunities and challenges. Our businesses did a good job of managing through these conditions and our second quarter results are consistent with our expectations," said Johnson Controls chairman and chief executive officer Steve Roell.
The company’s Automotive Experience sales in the quarter increased 7 percent to $5.6 billion. The firm’s Building Efficiency sales in the quarter were $3.6 billion, slightly higher than last year.
The company said that it expects its fiscal third quarter earnings to increase approximately 20 percent vs. the 2011 third quarter, and its fourth quarter earnings to increase approximately 25 percent from the prior year period.
"Our second half performance forecast is not predicated on improvements in our markets. Our businesses are gaining market share and extending their market-leading positions," Roell said. "We will continue the aggressive actions to improve efficiencies and to reduce costs, which will accrue increasing benefits throughout the rest of the year and beyond."