MILWAUKEE — Johnson Controls, Inc. (JCI) forecasts diluted earnings per share from continuing operations for fiscal 2008 to increase by 18 percent, to $2.45 to $2.50.
The company also said that it expects sales for 2008 to increase by 10 percent, to approximately $38 billion.
"Johnson Controls near-term sales growth will be driven by a combination of our participation in growing markets and our ability to increase our market shares," said Stephen Roell, chief executive officer.
"In the buildings market," he said, "we will continue to achieve double-digit growth rates based on delivering energy efficiency and sustainability solutions globally. In the automotive market we are benefiting from our exposure to emerging markets and increasing demand for higher levels of interior comfort, convenience and connectivity. Concurrently, we have significant exposure to the steady building services and aftermarket battery sectors where we are enjoying strong growth. We are also in a strong position to make investments that will broaden our product portfolios, technical capabilities and market penetration."
Roell added that "Our forecast for margin improvement reflects the continuation of our disciplined process for achieving improvements in quality and cost. Those achievements, combined with our increased revenue growth, will make 2008 another year of strong profitable growth for Johnson Controls."
The company confirmed its guidance for 2007 fourth-quarter earnings of 77 cents to 78 cents per diluted share from continuing operations, an increase of 24 to 26 percent from the prior year. For the full year, earnings are expected to be approximately $2.08 – $2.10 per diluted share from continuing operations (excluding a non-recurring tax benefit of 6 cents per share), up 19 percent over 2006. Sales for 2007 are expected to total $34.5 billion, up 7 percent. The company said these record results will mark JCI’s 61st consecutive year of sales growth and 17th consecutive year of earnings growth.
The company will report its financial results for fiscal 2007 on Oct. 23. All earnings forecasts reflect the company’s 3-for-1 stock split on Oct. 2.
For more information about JCI, go to: http://www.johnsoncontrols.com.
