From AFX News Limited

MILWAUKEE -- Johnson Controls Inc., which makes auto parts and temperature control systems, on Friday said its fiscal first-quarter earnings fell 2 percent, as revenue from its automotive business declined amid production cuts by automakers.

Earnings for the quarter ended Dec. 31, 2006, decreased to $162 million, or 82 cents per share, from $165 million, or 85 cents per share, during the same period last year. Income from continuing operations rose slightly to $168 million, or 85 cents per share, from $167 million, or 86 cents per share.

Analysts polled by Thomson Financial forecast a profit of 84 cents per share. Revenue grew 9 percent to $8.21 billion from $7.52 billion in the same period a year ago. Analysts expected revenue of $8.34 billion.

Revenue from the company's automotive business fell 11 percent to $4.2 billion, as light vehicle production in North America decreased 8 percent versus a year ago. The company reiterated its expectations for fiscal year earnings of $6 per share on revenue of about $34 billion. In the second quarter, the company expects to earn $1.05 per share.

Analysts expect earnings in the fiscal year of $6.05 per share on revenue of $34.29 billion. They expect $1.05 per share in the second quarter.

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