Restructuring charges push JCI into the red
Oct 31, 2012 | 01:16 PM
| 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.....
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