MILWAUKEE, July 21, 2016 /PRNewswire/ — For the third quarter of fiscal 2016, Johnson Controls (NYSE:JCI), reported $9.5 billion in revenues and net income from continuing operations of $383 million, which includes several non-recurring items. Diluted earnings per share from continuing operations for the quarter were $0.59. Adjusted non-GAAP diluted earnings per share from continuing operations for the quarter were $1.07, up 18 percent from the prior year quarter. Excluding transaction / integration / separation costs and other non-recurring items in the fiscal third quarter, continuing operations highlights include:
- Net revenues of $9.5 billion versus $9.6 billion in fiscal Q3 2015, with the decrease due primarily to the deconsolidation of the Company’s Automotive Interiors joint venture and foreign exchange, largely offset by higher organic revenues (up 1 percent) and incremental revenues from its Johnson Controls-Hitachi (JCH) joint venture
- Segment income from continuing operations of $1,003 million compared with $848 million in the prior year quarter, up 18 percent (up 19 percent excluding foreign exchange), including the contribution of the JCH joint venture and ongoing Johnson Controls Operating System benefits
- Segment income margins 170 basis points higher than the fiscal 2015 third quarter
- Diluted earnings per share of $1.07, up 18 percent versus $0.91 in the same quarter last year
Read the full Johnson Controls press release here.