Johnson Controls sees 2012 earnings up 20 percent

AP News
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Posted: Oct 12, 2011 9:16 AM

Johnson Controls Inc. said Wednesday it expects its earnings per share to rise about 20 percent in fiscal 2012 on strong orders in both its automotive and buildings businesses.

The Milwaukee company predicted earnings for the full fiscal year, which began this month, of between $2.85 and $3 per share. Analysts surveyed by FactSet are expecting earnings of $3.11 per share.

Johnson Controls Inc. expects sales of $44.2 billion in 2012, up about 9 percent from what it expects in fiscal 2011. Analysts predict revenue of $44.64 billion.

Revenue in its building efficiency business is expected to increase by between 9 and 11 percent in 2012, while revenue in its automotive unit is projected to see revenue growth of 6 percent. That unit produces everything from single systems for seating, instrument panels and doors to complete interiors.

Power Solutions revenue is expected to increase by 11 to 13 percent in 2012.

Market-wide, it expects higher 2012 automotive production in North America and China. The global building efficiency market is expected to improve slightly next year as growth in emerging markets offsets softness elsewhere.

For the fiscal fourth-quarter, which ended in September, Johnson Controls said it expects earnings of 75 cents per share, excluding one-time items. It sees revenue for the three-month period of about $10.7 billion. Analysts predict a profit of 78 cents per share on revenue of $10.47 billion.

The projections for 2012 are below Wall Street's expectations. Its shares edged up a penny to $30.15 in premarket trading after trading as low as $29.61 earlier.