MILWAUKEE, PRNewswire/ -- Johnson Controls, Inc. today reported record sales and earnings for its 2007 fourth quarter. Diluted earnings per share from continuing operations totaled $0.78, up 26% from $0.62 last year.
Sales for the 2007 fourth quarter totaled $9.0 billion, up 11% from $8.2 billion in 2006 as the company increased its share of its global markets. Income from continuing operations was $469 million versus $368 million last year, an increase of 27% as a result of the higher revenues and increased operational efficiencies.
For the 2007 fiscal year, Johnson Controls sales totaled $34.6 billion compared with $32.2 billion for 2006, an increase of 7%. Income from continuing operations increased 25% to $1.3 billion. Diluted earnings per share from continuing operations in 2007 were $2.16 versus $1.75. Excluding a non-recurring tax benefit in the second quarter, 2007 diluted earnings per share from continuing operations were $2.10. Fiscal year 2007 is the company's 61st consecutive year of sales increases and 17th consecutive year of earnings increases.
All earnings per share amounts reflect the company's 3-for-1 stock split on October 2, 2007.
"We are pleased to deliver record results for the fourth quarter and for the full fiscal year," said Chief Executive Officer Stephen A. Roell. "We expect to continue to win share and grow at a faster pace than our underlying industries through our innovation, cost advantages and world-class quality."
He continued, "It is a core part of our company's culture to understand customers' emerging needs and to deliver unique, practical solutions. Our employees around the world continue to show an outstanding commitment to our customers, and I thank them for another record year."
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