MILWAUKEE , Jan. 18 /PRNewswire-FirstCall/ -- Johnson Controls, Inc.
(NYSE: JCI) today reported record sales and income from continuing operations
for the first quarter of fiscal 2008, with diluted earnings per share from
continuing operations increasing 39% to
Chairman and Chief Executive Officer Stephen A. Roell said, "We continue to deliver record results with strength in both the domestic markets as well as higher growth international markets. Building efficiency continues to generate double-digit sales and earnings improvements and automotive experience profitability is increasing as planned. Our exposure to global markets and focus on cost and quality improvements continue to positively impact our performance. We believe we are on track to achieve another year of strong sales and earnings growth."
First-Quarter 2008 Results
Sales for the quarter ended December 31, 2007 rose 16% to a record
Building efficiency sales increased 11% to
Power solutions sales were up 55% to
Automotive experience sales for the first quarter of 2008 totaled
2008 Full Year and Second-Quarter Outlook
The fiscal 2008 full-year earnings outlook provided by the company on
October 9, 2007 remains unchanged. The company forecasts revenues increasing
10% to about
For the second quarter of fiscal 2008, the company forecasts diluted
earnings per share from continuing operations of
Mr. Roell said, "The company continues to benefit from its business diversification and by bringing new value to our customers. We are increasing our investments in globalization and new enhanced technologies while ensuring we continue to improve our cost base. Our first quarter results represent a strong start to our fiscal year, and with the earnings visibility we have for our three businesses, we are confident in our full-year earnings guidance."
Johnson Controls, Inc. ("the Company") has made forward-looking statements in this document pertaining to its financial results for fiscal 2008 and beyond that are based on preliminary data and are subject to risks and uncertainties. All statements other than statements of historical fact are statements that are or could be deemed forward-looking statements and include terms such as "outlook," "expectations," "estimates," or "forecasts." For those statements, the Company cautions that numerous important factors, such as automotive vehicle production levels and schedules, energy prices, the ability to mitigate the impact of higher raw material costs, the strength of the U.S. or other economies, currency exchange rates, cancellation of commercial contracts, changes to domestic and foreign tax rates as well as other factors discussed in the Company's most recent Form 10-K filing (dated November 29, 2007 ) could affect the Company's actual results and could cause its actual consolidated results to differ materially from those expressed in any forward-looking statement made by, or on behalf of, the Company.
Johnson Controls (NYSE: JCI) is the global leader that brings ingenuity to the places where people live, work and travel. By integrating technologies, products and services, we create smart environments that redefine the relationships between people and their surroundings. Our team of 140,000 employees creates a more comfortable, safe and sustainable world through our products and services for more than 200 million vehicles, 12 million homes and one million commercial buildings. Our commitment to sustainability drives our environmental stewardship, good corporate citizenship in our workplaces and communities, and the products and services we provide to customers. For additional information, please visit http://www.johnsoncontrols.com/