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JOHNSON CONTROLS REPORTS RECORD YEAR-END RESULTS

 JOHNSON CONTROLS REPORTS
 RECORD YEAR-END RESULTS
 MILWAUKEE, Oct. 29 /PRNewswire/ -- Johnson Controls, Inc. (JCI) (NYSE: JCI) reported record sales and earnings for the 12 months ended Sept. 30, 1992.
 Annual sales increased 13 percent to $5,156.5 million from $4,559.0 million for 1991. Operating income for 1992 rose 16 percent to $265.5 million from $228.8 million a year ago. Net income for the current year was $123.0 million, up 29 percent from the prior year's $95.1 million. An improvement in equity income from partially owned affiliates and lower interest expense aided the net income comparison. Primary and fully diluted earnings per share were $2.86 and $2.73 respectively, up from $2.19 and $2.11 for 1991.
 James H. Keyes, president and chief executive officer, said, "The improvements in consolidated results were in line with our expectations at the start of the year, even though overall economic activity remained sluggish. Our gains are largely due to focusing on serving the real needs of our customers. In 1992, this focus, together with our commitment to improving quality, translated into higher profitability."
 Sales of facility services and control systems totalled $1,948.1 million, up 4 percent over $1,876.0 million for 1991. The increase reflects higher sales of systems, services and facility operations to the commercial existing buildings market. Sales to the commercial new construction and government operations markets were approximately level with the prior year. Operating income increased 24 percent to $83.9 million from $67.5 million primarily as a result of the higher activity in the commercial existing buildings market. Orders from this same market, particularly in North America, more than offset the decline in commercial construction.
 Sales of automotive seating systems increased 38 percent in 1992, reaching $1,701.3 million compared with $1,235.8 million for 1991. The increase reflects market share gains, acquisitions in Europe and a higher domestic vehicle production level. Operating income rose 33 percent to $75.0 million from $56.5 million. The gain was due to efficiencies in both North America and Europe and the higher level of North American vehicle production. Operating income grew somewhat less than sales because of increased product development costs.
 Battery sales were marginally lower than a year ago, at $688.7 million for 1992 versus $692.3 million for 1991. While unit shipments were higher than the prior year, lower lead costs reduced battery selling prices. The increase in shipments and operating improvements led to operating income increasing by 12 percent, to $40.7 million from $36.4 million for 1991.
 Plastics sales were $818.4 million for 1992, up 8 percent from the prior year's $754.9 million. Most of the gain came from higher sales of plastics machinery and custom plastic containers. Domestic sales of soft drink containers were slightly lower as were European shipments. Operating income for 1992 was $65.9 million, 4 percent lower than the $68.4 million for 1991. The decline is attributable to reduced income from European operations.
 For the three months ended Sept. 30, 1992, sales increased 21 percent to $1,450.6 million from $1,199.4 million a year ago. Operating income was 23 percent higher, at $92.0 million versus $75.1 million. Net income rose 33 percent to $41.7 million from $31.3 million. Primary earnings per share were $.98 versus $.73 in 1991 while fully diluted earnings per share totalled $.93 in the current period, up from $.70.
 CONSOLIDATED STATEMENT OF INCOME
 (in millions, except per share)
 Three Months For the Year
 Ended Sept. 30, Ended Sept. 30,
 1992 1991 1992 1991
 (Unaudited)
 Net sales $1,450.6 $1,199.4 $5,156.5 $4,559.0
 Cost of sales 1,209.2 991.4 4,365.9 3,853.9
 Gross profit 241.4 208.0 790.6 705.1
 Selling, general and
 administrative expenses 149.4 132.9 525.1 476.3
 Operating income 92.0 75.1 265.5 228.8
 Interest income 1.7 2.5 8.2 7.2
 Interest expense (11.8) (14.6) (48.2) (57.5)
 Miscellaneous - net (4.7) (5.2) 2.2 (2.5)
 Other income (expense) (14.8) (17.3) (37.8) (52.8)
 Income before income taxes 77.2 57.8 227.7 176.0
 Provision for income taxes 35.5 26.5 104.7 80.9
 Net income $41.7 $31.3 $123.0 $95.1
 Earnings available for
 common shareholders $39.7 $29.2 $114.9 $86.8
 Earnings per share
 Primary $0.98 $0.73 $2.86 $2.19
 Fully diluted $0.93 $0.70 $2.73 $2.11
 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.
 Three Months Ended Year Ended
 September 30, September 30,
 Weighted Average Shares 1992 1991 1992 1991
 (in millions)
 Primary 40.4 39.7 40.1 39.6
 Fully diluted 44.0 43.4 43.8 43.3
 -0- 10/29/92
 /CONTACT: Denise M. Zutz of Johnson Controls, Inc., 414-228-3155/
 (JCI) CO: Johnson Controls, Inc. ST: Wisconsin IN: AUT SU: ERN


KK -- CL004 -- 6394 10/29/92 08:37 EST
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