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Johnson Controls Inc JCI
Q4 2012 Earnings Call Transcript

Transcript Call Date 10/30/2012

Operator: Welcome and thank you for standing by. At this time, all participants are in a listen-only mode. Today's conference is being recorded. If you have any objections, you may disconnect at this time.

Now, I will turn the meeting over to Mr. Glen Ponczak.

Glen Ponczak - VP, IR: Good morning, everyone, and thank you for joining us. Before we start, I want to remind you that Johnson Controls will make statements in this presentation that are forward-looking and therefore are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are or could be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this document, statements regarding further financial position sales, costs, earnings, cash flows, other measures or results of operations, capital expenditures or debt levels and plans, objectives, outlook, and targets are forward-looking statements. Johnson Controls cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors some of which are beyond the Company's control that could cause Johnson Controls' actual results to differ materially from those expressed or replied by such forward-looking statements.

These factors include the strength of U.S. or other economies, automotive production levels, mix and schedules, energy and commodity prices, availability of raw materials and component products, currency exchange rates and cancellation of or changes to commercial contracts, as well as other factors discussed in Item 1A of Part I of Johnson Controls most recent annual report on Form 10-K for the year ended September 30, 2011 and Johnson Controls subsequent quarterly reports on Form 10-Q. Shareholders, potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements.

Steve Roell, our Chairman and Chief Executive Officer, is with us this morning and will start with an overview of the quarter and of the full 2012 fiscal year. Then followed by Bruce McDonald, our Executive Vice President and Chief Financial Officer who will go through in more detail our business review and the business results. That will be followed with questions and answers and we will end the call at the top of the hour.

With that I'll turn it over to Steve?

Stephen A. Roell - Chairman, President and CEO: Thank you Glen, and good morning. First of all for those of you that are on the East Coast that are joining us on the call or listening to this on a replay we hope that you and your families are safe and that life gets back to normal as soon as possible. We considered postponing this call but based on our other conflicts and the fact that we thought we could get a lot of information out to this morning we opted to continue and go through the call with earnings.

Now, let's start with fiscal 2012. It proved to be a very challenging year and while we achieved record sales and earnings, we were not able to reach the levels of performance that we had set for ourselves though that we had communicated to our shareholders coming into the year. In the last two weeks, I'm sure, you have had an opportunity to listen to a variety of earnings reports and most of those are focused on the deteriorating business climate and the uncertainties that lie ahead.

Read our Earnings Call Transcript disclaimer.
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