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Johnson Controls, Integrity Bank report earnings

By , - Last modified: October 30, 2012 at 12:06 PM

Integrity Bancshares and Johnson Controls Inc., a Milwaukee-based company with facilities in York County, this week reported results for their most recent fiscal quarters.

Johnson Controls Inc., which ended its fiscal 2012 on Sept. 30, this morning reported a net loss for the quarter of $8 million, or 1 cent per diluted share, compared with income of $234 million, or 34 cents per share, for the fourth quarter of fiscal 2011.

Analysts had expected net income of 92 cents per diluted share, according to Yahoo Finance.

The company said it took a mark-to-market charge of $447 million, or $271 million after taxes, related to pension and medical benefits, and a restructuring charge of $245 million, which amounted to $228 million after taxes.

In 2011, Johnson took a pension and benefits mark-to-market charge of $479 million, $313 million after taxes.

Excluding those charges, Johnson said it had net income of $526 million in the fourth quarter, or 77 cents per diluted share, and $523 million, or 76 cents per diluted share, in the fourth quarter of 2011.

For the full fiscal year, Johnson reported net income of $1.2 billion, or $1.78 per diluted share, compared with net income of $1.4 billion, or $2.06 per diluted share, for fiscal 2011.

Johnson said it expects fiscal 2013 earnings “to be flat to slightly higher than 2012.”

Johnson manufactures batteries, automotive systems and HVAC equipment. It acquired York International Inc. in 2005. Its shares trade on the New York Stock Exchange under the ticker symbol JCI.

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Integrity Bancshares Inc., the parent company of Integrity Bank, today reported earnings of $1.57 million for the third quarter, compared with $1.34 million for the third quarter of 2011.

The bank’s return on equity was 16.55 percent, Integrity said in a statement.

Integrity, based in Camp Hill, is privately held.


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