Johnson Controls 2Q Profit Up on Sales
Friday April 20, 7:36 am ET
Johnson Controls Second-Quarter Profit Rises to Record Level on Higher Sales and Tax Benefit
MILWAUKEE (AP) -- Johnson Controls Inc., which makes car seats and batteries, said Friday its fiscal second-quarter profit rose 38 percent on higher sales and a tax benefit, setting record highs and beating analyst estimates.
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Net income for the three months ended March 31 increased to $228 million, or $1.14 per share, versus $165 million, or 84 cents per share, in the previous year.
The current quarter included a 19 cents per share tax benefit.
Income from continuing operations grew to $262 million, or $1.31 per share, from $162 million, or 83 cents per share, a year ago.
Excluding the tax benefit for the current and prior-year periods, earnings from continuing operations were $1.12 per share versus 82 cents per share.
Analysts surveyed by Thomson Financial were expecting a profit of $1.06 per share. |
