Johnson Controls posts lower profit

Fri Jan 18, 2013 7:11am EST

Jan 18 (Reuters) - Johnson Controls Inc's quarterly profit fell 17 percent and the largest U.S. auto parts supplier forecast further declines, citing weakness in Europe.

Net income fell to $354 million, or 52 cents per share, in the first quarter, from $424 million, or 62 cents per share, a year earlier.

The company forecast second-quarter profit of 40 cents to 42 cents per share, below analysts' expectations of 51 cents, according to Thomson Reuters I/B/E/S.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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