Johnson Controls first-quarter revenues top estimates

Reuters
The logo of the U.S. Johnson Controls company is seen in Nersac, southwestern France, January 31, 2008. REUTERS/Regis Duvignau

(Reuters) - Johnson Controls Inc on Thursday reported a fiscal first-quarter profit that met Wall Street expectations and reaffirmed its fiscal 2014 outlook. Revenue was $10.91 billion, beating expectations of analysts polled by Thomson Reuters I/B/E/S of $10.73 billion, and $10.42 billion a year ago. Net profit for the quarter was $469 million, 69 cents per share, up from $359 million, or 52 cents per share, a year ago. The company forecast profit between $3.15 and $3.30 per share for 2014. A month ago, the company issued a forecast that disappointed Wall Street, which had expected 2014 earnings of $3.31 per share. Johnson Controls makes car interiors, batteries and heating, ventilation and cooling systems for buildings. Earlier this month, the company sold its automotive electronics business to Visteon Corp for $265 million in cash. (Reporting by Bernie Woodall in Detroit; Editing by Jeffrey Benkoe)