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Johnson Controls forecasts rising sales
Johnson Controls forecasts rising sales, parts production
Posted Tuesday, Oct 13, 2009, 11:04 am in Employee News
Johnson Controls Inc. expects to post higher sales and improved earnings while boosting global auto parts production in 2010 as U.S. stimulus efforts pay off and emerging markets gain, Reuters reported.
The automotive seat and electronics supplier said it expected to report earnings of 40 cents to 42 cents per share for the fourth quarter ended on Sept. 30, with all its automotive geographic regions posting profit, the news service said. The result would be 1 cent to 3 cents more than the 39 cents analysts are expecting.
The company said it expected government stimulus-funded projects to begin to have a meaningful effect on revenues this year, and weakness in North America would be offset by less economically sensitive institutional markets and several emerging markets, the news service reported. When it reported a 63 percent plunge in quarterly profit in July, Johnson Controls said it expected earnings to rise through the remainder of the year and into fiscal 2010, the story said. (Reuters)
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