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Johnson Controls reports record quarterly sales

Milwaukee, Wis. - Despite weaker than-expected results from automotive units, Johnson Controls, Inc., the multinational automotive systems and building controls company, reported record sales for the third quarter of 2006.

The annual profit outlook, however, is getting dimmer due to the continuing slump in North American automotive inte......

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Year-end earnings expectations have been revised down, however, because of the impact of $3 per gallon gasoline prices and higher interest rates on automotive interiors in North America. Income for that business unit was down 16 percent to $168 million, in part because quarterly sales dropped six percent to $4.7 billion.

Overall, the company still expects annual sales to reach $32 b......

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'"/> By WTN News 07/20/06

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