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JCI Profit Jumps 32%
Johnson Controls Inc. reported net earnings of $571 million in the fiscal third quarter ended June 31 compared with $431 million a year earlier.
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Johnson Controls Inc. reported net earnings of $571 million in the fiscal third quarter ended June 31 compared with $431 million a year earlier. Revenue rose up 2% to $10.8 billion.
Excluding special items, JCI's income climbed 18% to $535 million. The company's three businesses auto parts, batteries and building climate control all posted double-digit gains in operating profit.
In the April-June period, the auto unit boosted such earnings one-third to $279 million on a 4% revenue increase to $5.7 billion. Battery operations hiked income 12% to $171 million as sales grew 8% to $1.4 billion. JCI notes that battery demand was weaker than expected in Europe and North America.
HomeLink is a remote control built into a vehicle that enables drivers to activate garage door openers and home door locks, lights and security systems. More than 50 million vehicles use the technology.
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