Milwaukee-based shipper Johnson Controls said it expects to take a $500 million hit on revenue during its April-June quarter from automotive manufacturing disruptions in Japan and at Japanese original equipment customers in North America and Europe.
The company gave that outlook while reporting a $354 million profit for its second fiscal quarter ending March 31, up 29 percent from a year earlier. Sales of $10.1 billion for the quarter were 22 percent higher.
Johnson Controls makes lead-acid car batteries, advanced batteries for hybrids and electric vehicles, and interior systems for automobiles. The company said it should recover lost sales and earnings in the first half of its fiscal 2012 that starts in October.
Its other businesses will try to pick up the slack with heating and air conditioning systems for buildings and marine vessels and with temperature control devices for refrigerated cargo containers.
But for its fiscal 2011 third quarter starting this month, the company said earnings would be reduced an estimated 16 to 18 cents a share due to disruptions for its auto-related business, which stem from continuing effects of the Japanese earthquake, tsunami and power crises. Counting that effect, Johnson Controls expects to earn 51 to 53 cents a share for this quarter.
Even with that headwind from Japan's troubles, the company looks for its fiscal 2011 revenue to rise 15 percent from 2010 to $39.5 billion. Its sales for the six months ending March 31 were $19.7 billion.