Johnson Controls Swings To Q4 Profit - Quick Facts

(RTTNews) - Auto parts supplier Johnson Controls, Inc. (JCI) reported net income attributable to the company of $105 million or $0.15 per share for the fourth quarter, compared to a net loss of $8 million or $0.01 per share in the prior-year quarter.

Results for the latest quarter included net charges of $0.80 per share, while the year-ago quarter included $0.78 per share of net charges.

Excluding items, Johnson Controls' adjusted net income was $657 million or $0.95 per share for the latest quarter. On average, 21 analysts polled by Thomson Reuters expected earnings per share of $0.95 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the fourth quarter increased six percent to $11.05 billion, from $10.39 billion in the same quarter last year. Analysts estimated revenues of $10.96 billion for the quarter.

Providing a preliminary outlook for fiscal 2014, Johnson Controls said it believes improving end markets will enable it to modestly grow revenues in the upcoming year.

For the first quarter of fiscal 2014, the company expects adjusted earnings to increase about 35 percent.