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JOHNSON CONTROLS REPORTS HIGHER SECOND-QUARTER RESULTS

 JOHNSON CONTROLS REPORTS HIGHER SECOND-QUARTER RESULTS
 MILWAUKEE, April 15 /PRNewswire/ -- Johnson Controls, Inc. (NYSE: JCI) today reported higher sales and earnings for its second quarter ended March 31, 1992.
 For the current quarter, sales increased 10 percent to $1,183.5 million from $1,073.5 million for the 1991 quarter. Operating income totalled $37.5 million, up 9 percent vs. $34.3 million a year ago. Net income for the 1992 quarter rose to $16.5 million from the prior year's $10 million. Aiding the 1992 net income amount were improved results from affiliated automotive and controls companies, as well as a reduction in interest expense. Primary and fully diluted earnings per share were $.36 for the 1992 quarter vs. $.20 for 1991.
 James H. Keyes, president and chief executive officer, said that the company's operating gains were mainly driven by a higher volume of seating shipments to the North American automotive market. This increase reflects a higher vehicle production level, plus new seating business. He added that sales to the European automotive market were also higher than the prior year, due primarily to the inclusion of recently acquired companies. Operating income from its automotive business worldwide also increased over the quarter a year ago.
 Facility services and control systems sales and income were about level with the year-ago amounts. The company explained that retrofit and service sales to the commercial buildings market were higher, but that commercial construction sales were off slightly. Worldwide orders from the commercial market were up over the prior-year period, reflecting stronger bookings in the existing buildings market.
 The plastics business had slightly higher sales, reflecting increases in unit shipments of custom containers for beverages and foods and higher machinery sales. Lower pricing in the domestic soft drink market caused those related sales to decline despite higher unit shipments. Operating income for the quarter was down slightly due to lower margins from European plastic container operations.
 Battery sales approximated the prior year amount because lower market prices for lead offset the benefit of slightly higher unit shipments. The business recorded an operating loss for the current period of about the same magnitude as in the 1991 quarter.
 For the six months ended March 31, 1992, sales increased 8 percent to $2,398.9 million from $2,221.8 million a year ago. Operating income was 9 percent higher, at $100.7 million vs. $92.5 million. Net income rose to $44.9 million from $34.5 million. Primary earnings per share were $1.02 vs. $.77 in 1991 while fully diluted earnings per share totalled $.99 in the current period, up from $.76.
 JOHNSON CONTROLS, INC.
 Consolidated Statement of Income
 (In millions, except per share; unaudited)
 Periods ended Three Months Six Months
 March 31 1992 1991 1992 1991
 Net sales $1,183.5 $1,073.5 $2,398.9 $2,221.8
 Cost of sales 1,022.3 919.4 2,055.0 1,899.4
 Gross profit 161.2 154.1 343.9 322.4
 Selling, general and
 administrative expenses 123.7 119.8 243.2 229.9
 Operating income 37.5 34.3 100.7 92.5
 Interest income 1.5 1.9 4.0 3.3
 Interest expense (11.4) (14.6) (24.9) (29.2)
 Miscellaneous - net 2.9 (3.0) 3.4 (2.7)
 Other income (expense) (7.0) (15.7) (17.5) (28.6)
 Income before income taxes 30.5 18.6 83.2 63.9
 Provision for income taxes 14.0 8.6 38.3 29.4
 Net income $16.5 $10.0 $44.9 $34.5
 Earnings available for
 common shareholders $14.5 $8.0 $40.9 $30.4
 Earnings per share
 Primary $0.36 $0.20 $1.02 $0.77
 Fully diluted $0.36 $0.20 $0.99 $0.76
 Note to the Consolidated Statement of Income
 Earnings per share -- Primary earnings per share are computed by dividing net income, after deducting dividend requirements on the Series D convertible preferred stock, by the weighted average number of common shares and common stock equivalents which would arise from the exercise of stock options. Fully diluted earnings per share assume the conversion of the company's Series D convertible preferred stock, if dilutive, plus the dilutive effect of the stock options.
 Periods ended Three Months Six Months
 March 31 1992 1991 1992 1991
 (in millions)
 Weighted average shares:
 Primary 40.0 39.5 39.9 39.5
 Fully diluted 43.7 43.3 43.6 43.3
 -0- 4/15/92
 /CONTACT: Denise M. Zutz of Johnson Controls, 414-228-3155/
 (JCI) CO: Johnson Controls, Inc. ST: Wisconsin IN: AUT SU: ERN


CK -- NY031 -- 8582 04/15/92 10:22 EDT
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Date:Apr 15, 1992
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