Johnson Controls Inc. (JCI) has forecast a 3-percent increase
in net sales in fiscal 2014 as the company looks to rebalance
its portfolio of businesses in an effort to lessen dependence
on the automotive sector.
expects to post earnings of between $3.15 and $3.30 per share
for the year ending Sept. 30 on sales of $43.8 billion.
"Over the long term,
we have a clear vision for our portfolio and our ability to
improve profitability," chief executive officer Alex Molinaroli
said in a statement. "We are committed to disciplined capital
allocation, and our strong balance sheet gives us the capacity
to continue investing in our businesses while meaningfully
increasing the cash we return to our shareholders."
Active strategic and
financial portfolio management is important to staying
competitive in an increasingly global marketplace, he said.
"This involves expectations of both acquisitions and
divestitures, using rigorous assessments of what are the best
financial cases and where we believe we can win."
JCI makes vehicle
interiors and batteries as well as heating, cooling and
ventilation systems for buildings.