(Source: Associated Press/AP Online)
MILWAUKEE - Johnson Controls says cost cuts and operational improvements bolstered its profit in the fourth quarter, despite the effects of the continued weak economy on its sales.
The Milwaukee company, which makes both automotive and building systems, posted a profit of $300 million,or 47 cents per share, compared with $16 million, or 3 cents per share, a year ago. Last year's results included nearly half a billion dollars in restructuring charges.
Excluding items, the company earned 52 cents per share, topping analysts estimates by a penny.
Sales fell 16 percent, to $7.87 billion.
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