Johnson Controls gets automotive experience boost

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Glendale-based Johnson Controls Inc. today reported second quarter net income of $291 million, or 39 cents per share, up significantly from $193 million, or 24 cents per share, in the second quarter of 2013.

Revenue was $10.4 billion, up four percent from $10.1 billion in the same period a year ago.

“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 Alex Molinaroli, Johnson Controls chairman and chief executive officer. “These results are consistent with the expectations we disclosed during our first quarter earnings call.”

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Automotive experience revenues, excluding discontinued operations resulting from the sale of the automotive electronics business, were $5.6 billion, up 11 percent over $5 billion in the second quarter of 2013.

Building efficiency sales were down 5 percent from last year, while power solutions sales were flat.

The company expects its pending acquisition of Air Distribution Technologies to significantly expand its third party distribution channels and create opportunities to cross-sell existing and new products.

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“While we have made significant progress on the changes to our portfolio, our priority remains operational excellence to drive continued increases in profitability and shareholder value,” Molinaroli said. “Our first half results demonstrate the success of our employees’ efforts and I thank them for their dedication to our customers and shareholders.”

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