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Johnson Controls posts in-line profit, reaffirms 2013 outlook
April 23, 2013 / 11:27 AM / 5 years ago

Johnson Controls posts in-line profit, reaffirms 2013 outlook

DETROIT (Reuters) - Johnson Controls Inc (JCI.N) on Tuesday posted a profit that met Wall Street’s expectations and the largest U.S. auto-parts maker reaffirmed its full-year outlook.

Net income attributable to Johnson Controls fell to $148 million, or 21 cents a share, in its fiscal second quarter, compared with $379 million, or 55 cents a share, in the year- earlier quarter.

Excluding one-time items, the company earned 42 cents a share, in line with what analysts polled by Thomson Reuters I/B/E/S had expected.

Revenue slipped 1 percent to $10.43 billion, just below the $10.48 billion analysts had expected.

In January, Johnson Controls, citing weak auto production in Europe, offered a second-quarter profit forecast far below Wall Street’s expectations. It said it would earn 40 to 42 cents a share, while analysts had previously expected 51 cents.

Reporting by Ben Klayman in Detroit; Editing by Maureen Bavdek

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