Auto parts maker Johnson Controls reports quarterly profit rise...

MILWAUKEE - Auto parts maker Johnson Controls Inc. said Monday an increase in sales helped boost its fourth-quarter profit by about 4 percent.

The company's quarterly sales still fell short of Wall Street expectations.

Johnson Controls said it earned $283.8 million, or $1.45 a share, in the fourth quarter, compared with $273 million, or $1.41 a share, a year ago.

Excluding charges, the company earned $292.5 million, or $1.50 a share, compared with $254.2 million, or $1.32 per share, a year ago.

The Milwaukee-based company reported its quarterly sales were $6.9 billion, up 7 percent from $6.4 billion a year ago.

Analysts surveyed by Thomson Financial expected Johnson Controls to earn $1.49 a share on sales of $7.07 billion. Analyst estimates typically exclude one-time charges.

The company said sales grew in all three of its segments. Its automotive interiors and seats division reported a 4 percent sales increase, its battery division a 37 percent gain and its building controls division a 5 percent rise.

For the full fiscal year, Johnson Controls reported an 11 percent increase in profit - $909.4 million, or $4.68 a share, compared with $817.5 million, or $4.24 a share. Excluding charges, income rose 12 percent to $872.6 million, or $4.49 per share, compared with $779.9 million, or $4.05 a share.

The company reported sales increased 10 percent to $27.88 billion. Analysts expected a $4.48 a share profit on revenue of $28.13 billion.

"We are pleased to report record quarterly and full-year results, continuing our track record for growth," John Barth, Johnson Controls chairman and chief executive, said in a statement. "In 2005 we broadened our capabilities, expanded our addressable markets and strengthened the foundation for improved profitability."

The company said for the 2006 fiscal year, it expects sales to increase 15 percent to $32 billion. For the first quarter of the next fiscal year, the company said it expects sales of $6.8 billion.

Shares of Johnson Controls rose $2.63, or 4 percent, to close at $68.50 Monday on the New York Stock Exchange.

Copyright 2005 Bliss Communications Inc. All rights reserved.

Use of this material and this site are subject to the GazetteExtra Terms of Use and Privacy Policy .

This is cache, read story here