|
Quotes & Info
|
| JCI > SEC Filings for JCI > Form 8-K on 16-Dec-2008 | All Recent SEC Filings |
16-Dec-2008
Results of Operations and Financial Condition
Attached and incorporated herein by reference as Exhibit 99.1 is a copy of the Johnson Controls, Inc. press release dated December 16, 2008, reporting that the registrant withdraws its fiscal 2009 guidance citing the rapid decline in global automotive production and uncertain industry conditions. Additionally, the registrant announced that it expects to report a loss in its 2009 first quarter ending December 31, 2008, primarily resulting from the impact of the dramatically lower automotive production levels on the Company's automotive experience business. The first fiscal quarter is traditionally the Company's weakest and generates the smallest portion of its annual profitability. The Company is continuing to adjust its cost structure and evaluate other cost reduction options in response to the environment. These cost structure improvement actions and the performance of the Company's building efficiency and power solutions businesses should enable the Company to remain profitable in 2009.
|
|