CHICAGO (Reuters) - Diversified manufacturer Johnson Controls Inc (JCI.N) said on Friday that quarterly earnings jumped 45 percent on strength in its building controls and automotive interiors businesses.
Johnson Controls left intact its forecast for double-digit earnings and sales growth for its fiscal 2008, which started on October 1.
Net income rose to $235 million, or 39 cents per share, in its first quarter ended December 31, from $162 million, or 27 cents per share, a year earlier.
Earnings from continuing operations also were 39 cents per share. On that basis, analysts, on average, expected the Milwaukee-based company to report earnings of 37 cents per share, according to Reuters Estimates.
Revenue was up 15.5 percent to $9.48 billion, while analysts looked for $9.14 billion.
The company sees second-quarter earnings from continuing operations of 46 cents to 48 cents per share, while analysts expect 46 cents.
Johnson Controls forecast fiscal 2008 earnings of $2.45 to $2.50 per share from continuing operations and sales growth of 10 percent to about $38 billion. Analysts were looking for $2.49 per share on revenue of $38.16 billion.
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