Johnson Controls on Wednesday confirmed its outlook for record results for fiscal 2003.
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The company said that it confirmed its guidance for the full year of 2003 made on October 9, 2002, when it forecast the achievement of record levels of operating income and diluted earnings per share on consolidated sales growth of 5-10%.
Automotive systems group sales growth of 5-10% is anticipated, assuming North American light vehicle production declines a slight percentage from the 16.3 million units produced in fiscal 2002, and European production increases slightly from last year’s level.
The automotive operating margin is expected to approximate the 2002 level of 5.7% and the controls group is expected to achieve sales growth of approximately 5% and a slight increase in operating margin from the 5.1% level for 2002.
