Johnson Controls, Inc. (NYSE: JCI – news) expects to report that earnings for the fourth quarter of its fiscal year 2000 will be $1.60 – $1.63 per diluted share, at least 16% over the $1.38 per diluted share for the three months ended September 30, 1999, and higher than the current consensus analyst estimate of $1.57. Assuming that range for the 12 months ended September 30, 2000, earnings per diluted share would total $5.06 – $5.09, at least 23% higher than $4.13 for fiscal 1999.
The company said that the record earnings level during the fourth quarter, as well as the full-year, reflects operating margin improvements by both its automotive and controls businesses as well as a strengthened financial position. According to Chairman and Chief Executive Officer, James H. Keyes, “Johnson Controls employees focus on customer satisfaction and continuous improvement, together with our investments in technology and productivity, continue to result in higher financial returns. We are pleased that 2000 will be our tenth consecutive year of achieving record earnings.”
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The company stated that it issued this preliminary release in advance of meeting with analysts next week in association with the Paris auto show. It said that it intends to release its final results for the three and 12 months ended September 30, 2000 on October 19.
Johnson Controls is a global market leader in automotive systems and facility management and control. In the automotive market, it is a major supplier of seating and interior systems, and batteries. For nonresidential facilities, Johnson Controls provides building control systems and services, energy management and integrated facility management. Johnson Controls, founded in 1885, has headquarters in Milwaukee, Wis. Its sales for 1999 totaled $16 billion.
