(Corrects 6th paragraph to show auto interiors business tocontract; corrects to show auto interiors loss for year, notquarter)
Oct 29 (Reuters) - Johnson Controls Inc, met analystexpectations in posting a record net profit in its fiscal fourthquarter, and said earnings would rise 30 percent in the nextquarter, the first of its fiscal 2014.
JCI, a diversified company that is an automotive supplierand maker of power efficiency products for buildings, reported acompany record net income of $657 million versus $526 million ayear ago. Its quarterly revenue of $11.05 billion was up from$10.39 billion a year earlier.
Both quarterly revenue and diluted earnings per share,excluding one-time items of $95 cents per diluted share, matchedexpectations of analysts polled by Thomson Reuters I/B/E/S.
New Chief Executive Alex Molinaroli on Tuesday announced,along with the company's earnings statement, that JCI expectsnext quarter's earnings to rise 30 percent, or 35 percentadjusted for the sale of HomeLink, an automotive electronicsbusiness sold in late September to Gentex Corp.
Analyst Ravi Shanker of Morgan Stanley said the fiscalfirst-quarter earnings projections appeared to be conservative.JCI's fiscal first quarter runs from October to December.
Milwaukee-based JCI also announced its intention to "explorestrategic options" to contract its automotive interiors businessas part of its previously stated plan to expand itsmulti-business portfolio. The automotive interiors part of JCI'sbusiness totaled $4.2 billion and lost $13 million in the fiscalyear.
Molinaroli took over as CEO on Oct. 1 from Steve Roell, whoremains chairman of the company's board of directors until Dec.31. JCI has about 168,000 employees.
JCI's shares were up 1.6 percent at $43.52 in early New YorkStock Exchange trading. At one point during the morning, itsshares reached $44.11, which beat its 12-month high of $43.49per share (Reporting by Bernie Woodall; Editing by Maureen Bavdek and DanGrebler)
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