Johnson Controls has unveiled second quarter net income of US$261m, up 59% from US$164m, on US$10.5bn of revenue.
As a result of the previously announced sale of its Automotive Electronics business, the company has reclassified Electronics’ results to discontinued operations and prior year financial statements have been revised.
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Excluding restructuring and non-recurring items in the second quarter, net revenue was US$10.5bn compared to US$10.1bn in Q2, 2013, up 4%, while income from business segment operations was US$629m compared to US$461m a year ago, up 36%.
“While the economic environment continues to challenge top line growth in some of our businesses, I am pleased with the profitability improvements in all businesses” said Johnson Controls chairman and CEO, Alex Molinaroli.
“These results are consistent with the expectations we disclosed during our first quarter earnings call.”
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