Businessweek

Johnson Controls Inc. announced that Kim Metcalf-Kupres has been elected to the newly-created position of vice president and Chief Marketing Officer (CMO). She will report to Alex Molinaroli, vice chairman. Metcalf-Kupres will lead the development of marketing and sales capabilities for the company's businesses, with added focus on customer satisfaction and brand development. She will also direct internal and external communications. Since joining Johnson Controls in 1994, Metcalf-Kupres has held a series of leadership roles in marketing and sales within the company's Building Efficiency and Power Solutions businesses. For the past five years, she has served in Power Solutions as vice president, Global Strategy, Sales and Marketing.

Johnson Controls Inc. reported consolidated unaudited earnings results for the second quarter and six months ended March 31, 2013. For the quarter, the company reported net sales of USD 10,430 million compared to USD 10,565 million a year ago. Sales were 1% lower than last year, with FX accounting for that decline. European operations in automotive and Building Efficiency accounted for about another 400 basis-point decline in revenues. This was then offset, however, by the Power Solutions and certain business -- Building Efficiency businesses. Income before income taxes was USD 395 million compared to USD 519 million a year ago. Net income was USD 178 million compared to USD 417 million a year ago. Net income attributable to the company was USD 148 million compared to USD 379 million a year ago. Diluted earnings per share was USD 0.21 compared to USD 0.55 a year ago. Cash provided by operating activities was USD 217 million compared to USD 243 million a year ago. Capital expenditures were USD 283 million compared to USD 448 million a year ago. Diluted income available to common shareholders was USD 148 million compared to USD 379 million a year ago. For the six months, the company reported net sales of USD 20,852 million compared to USD 20,982 million a year ago. Income before income taxes was USD 875 million compared to USD 1,091 million a year ago. Net income was USD 562 million compared to USD 876 million a year ago. Net income attributable to the company was USD 502 million compared to USD 803 million a year ago. Diluted earnings per share was USD 0.73 compared to USD 1.17 a year ago. Cash provided by operating activities was USD 515 million compared to USD 146 million a year ago. Capital expenditures were USD 664 million compared to USD 986 million a year ago. Diluted income available to common shareholders was USD 502 million compared to USD 804 million a year ago. The company reaffirmed its previous earnings guidance for the 2013 fiscal year of USD 2.60 to USD 2.70 per diluted share. The company is looking at around USD 6.2 billion in net debt right now, targeting USD 5.2 billion towards the back half, toward, at September 30. The company had taken down capital expenditure outlook, it's going to be about USD 1.2 billion. The company announced impairment charges of USD 13 million against USD 14 million for the same period of last year.

Johnson Controls Inc. (NYSE:JCI) said it has received multiple "expressions of interest" to purchase its automotive electronics business but declined to identify the potential suitors. Delphi Automotive PLC (NYSE:DLPH) and Continental AG (DB:CON) have reportedly expressed interest in acquiring automotive electronics business of Johnson Controls Inc. (NYSE:JCI), people familiar with the situation said. According to the sources, the automotive electronics business may fetch about $1.2 billion. "As a matter of company policy we don't comment on merger and acquisition activity," Delphi spokeswoman Claudia Piccinin told Dow Jones News Service. Two other bidders were Valeo SA (ENXTPA:FR) and Harman International Industries, Incorporated (NYSE:HAR), said one of the people. Fabienne de Brebisson, a spokeswoman for Valeo, told Bloomberg that the French company isn’t bidding. J.P. Morgan Chase & Co. was appointed by Johnson Controls in March to advise it on the potential sale of its automotive electronics business.

Johnson Controls will provide its Absorbent Glass Mat (AGM) advanced battery technology to power the Chery Jaguar Land Rover Start-Stop and other vehicles made in China to serve the China market. AGM batteries are a proven advanced energy storage solution for Start-Stop vehicles. AGM batteries used in a Start-Stop system help reduce fuel consumption as the engine shuts off when the vehicle comes to a stop in traffic or at a red light. The battery restarts the engine when the driver's foot releases the brake pedal or engages the clutch.

Johnson Controls Inc. Presents at Bloomberg New Energy Finance Summit, Apr-24-2013 11:30 AM. Venue: Grand Hyatt, New York, New York, United States. Speakers: Clay Nesler, VP Global Energy & Sustainability.