Johnson Controls on Tuesday said diluted earnings per share from continuing operations for fiscal 2008 would rise 18% to $US2.45 – $2.50.
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The auto industry interior systems and battery supplier also said that it expects sales for 2008 to increase by 10%, to approximately $38bn.
“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 CEO Stephen Roell.
“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… 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: “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.”
The company confirmed its guidance for 2007 fourth-quarter earnings of $0.77 – $0.78 per share from continuing operations, an increase of 24 – 26% year on year.
For the full year, earnings are expected to be approximately $2.08 – $2.10 per share from continuing operations (excluding a non-recurring tax benefit of $0.06 per share), up 19% over 2006. Sales for 2007 are expected to total $34.5bn, up 7%.
These record results will mark the company’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 23 October.
