Johnson Controls has posted net income from continuing operations of US$3m on US$8.7bn in revenues for the fourth quarter.
The net revenue of US$8.7bn compared to US$10bn in Q4, 2014, was due primarily to the deconsolidation of the company's automotive interiors business and foreign exchange.
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Excluding the impact of the deconsolidation of the interiors business and foreign exchange, sales increased 3%.
"We ended fiscal 2015 with solid contributions from all of our businesses, continuing the strong performance we have seen throughout the year," said Alex Molinaroli, Johnson Controls chairman, president and CEO, Alex Molinaroli.
"While the macro-economic environment is challenging in some key markets, each of our businesses again generated significant margin improvements in the fourth quarter and we see increasing benefits from the Johnson Controls Operating System across the company.”
For the first quarter of 2016, the company expects earnings of US$0.80 – US$0.83 per diluted share an increase of 8 -12% versus the prior year first quarter.
This guidance excludes transaction, integration, separation and non-recurring items. Johnson Controls will provide full fiscal year 2016 guidance at its annual New York analyst day on 1 December.
Molinaroli added, "We have a solid start to fiscal 2016 in all of our businesses,” added Molinaroli. “Through our capital allocation strategies, we're focusing Johnson Controls on growth technologies and markets with higher returns.”
