Johnson Controls Inc. (JCI - Free Report) announced that it plans to launch an array of products at the 2013 Auto Shanghai show that will likely enhance the efficiency of the next generation vehicles. Johnson Controls is a leading supplier of automotive interiors, batteries, and other control equipment.
The products set to be introduced by Johnson Controls’ smart seating systems to reduce the mass and complexity and offering better features including innovative seating system. This will provide state-of-the-art comfort with personalization together with integration of electrical functions through Wi-Fi connection.
Johnson Controls will also showcase an interior concept, which will offer a luxury experience to customers on different vehicle platforms in different markets worldwide.
The full range of the energy storage solutions used in the conventional Start-Stop, Micro Hybrid, hybrid and electric vehicles will help automakers to fulfill fuel efficiency and emissions standards. Next, the company also plans to launch infotainment products, which will offer superior user experience.
With all these products plans, Johnson Controls seeks to deliver innovative interior solutions to customers to address the market demand for products with sustainability, comfort and safety.
Johnson Controls posted a 16.1% fall in earnings to 52 cents per share in the first quarter of fiscal 2013 ended Dec 31, 2012 from 62 cents in the same quarter of prior fiscal year as global demand for its products weakened. However, profits surpassed the Zacks Consensus Estimate by a penny. Net income declined 16.5% to $354.0 million from $424.0 million in the first quarter of fiscal 2012.
Revenues in the quarter were flat at $10.4 billion, but exceeded the Zacks Consensus Estimate of $10.2 billion. Revenues remained unchanged as it benefitted from strong business backlog partially offset by weak demand across the globe, especially in Europe. Currently, Johnson Controls retains a Zacks Rank #3 (Hold) on its stock.
Meanwhile, some other stocks that are performing well in the industry where Johnson Controls operates include Gentherm Incorporated (THRM - Free Report) , Tower International, Inc. (TOWR - Free Report) and Denso Corp. (DNZOY - Free Report) . All these companies carry a Zacks Rank #1 (Strong Buy).