Restructuring charges push JCI into the red
Oct 31, 2012 | 01:16 PM
| Daniel Fitzgerald
Tags
Johnson Controls,
lead scrap,
batteries,
earnings report,
Bruce McDonald,
daniel fitzgerald
NEW YORK — Johnson Controls Inc. (JCI) has posted a fiscal fourth-quarter net loss of $8 million, with the company's battery recycling division still grappling with the "headwind" of higher scrap costs.
The loss for the three months ended Sept. 30, which was due primarily to pre-tax restructuring charges of $245 million, was in sharp contrast to net income of $234 million in the same period last year. Sales in the quarter totaled $10.39 billion, down 3.7 percent from $10.79 billion a year earlier.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here