DETROIT -- Johnson Controls Inc. reported a stronger-than-expected quarterly profit due to a fast recovery from the impact of the Japan earthquake in March and higher auto production levels in some markets.
The March earthquake, tsunami and nuclear crisis in Japan disrupted the supply of key auto parts and forced automakers to idle plants and cut output.
Johnson Controls' net income attributable to shareholders in the third quarter fell to $357 million, or 52 cents a share, compared with $418 million, or 61 cents a share, in the year- earlier quarter.
Excluding one-time items, it earned 56 cents a share, 2 cents better than the average analyst estimate as polled by Thomson Reuters had expected.
Sales rose 21 percent to $10.4 billion, above the $9.55 billion analysts had expected.