Johnson Controls’ net sales for the second quarter of fiscal year ended 31 March 2015 were down 2.8% to US$9.19bn. Income from continuing operations before income taxes was up 13.8% to $611m. Net increased to $529m from $261m.
Net sales for the first half were down 1% to $18.8bn. Operating income was up 13% to $1.24bn. Net income was up 41.9% to $1.03bn.
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“I am very pleased with our second quarter results. Our businesses showed increased underlying growth and delivered higher margins that we believe are sustainable,” said Alex Molinaroli, chairman and chief executive officer. “Despite foreign currency headwinds, profitability increased across the business segments.
In December 2014, the company provided full year earnings guidance of $3.55 – $3.70 per diluted share including the GWS contribution of approximately $0.20. With GWS reported as a discontinued operation, the company is updating its full-year guidance from continuing operations to $3.30 to $3.45 per share for fiscal 2015, a year over year increase of 10 to 15%.
