Summary
Johnson Controls International plc (JCI), formerly known as Tyco International Ltd., reported net revenue of $17.4 billion for the fiscal year ended September 30, 2011. The company operates across three primary segments: Tyco Security Solutions, Tyco Fire Protection, and Tyco Flow Control. A significant development during the year was the announcement of a plan to separate Tyco into three distinct publicly traded companies, focusing on North American residential security, flow control, and commercial fire and security. This strategic move aims to unlock shareholder value by creating more focused entities. Financially, the company demonstrated resilience, with increased revenue and operating income compared to the prior year. The Tyco Security Solutions segment was a key driver of growth, benefiting from acquisitions like Broadview Security and organic expansion. The company also managed its debt effectively and returned capital to shareholders through dividends and share repurchases. However, the company faces ongoing risks including intense competition, global economic uncertainties, foreign currency fluctuations, and significant legal and regulatory challenges, including ongoing investigations related to the Foreign Corrupt Practices Act.
Financial Highlights
55 data points| Revenue | $10.56B |
| Cost of Revenue | $6.89B |
| Gross Profit | $3.67B |
| R&D Expenses | $129.00M |
| SG&A Expenses | $2.83B |
| Operating Income | $982.00M |
| Interest Expense | $240.00M |
| Net Income | $1.72B |
| EPS (Basic) | $3.63 |
| EPS (Diluted) | $3.59 |
| Shares Outstanding (Basic) | 474.00M |
| Shares Outstanding (Diluted) | 479.00M |
Key Highlights
- 1Net revenue reached $17.4 billion for the fiscal year ended September 30, 2011.
- 2The company announced a plan to separate into three independent publicly traded companies, expected to be completed in 2012.
- 3Tyco Security Solutions showed strong growth, with net revenue increasing by 11.5% year-over-year, driven by acquisitions and organic growth.
- 4Operating income saw a significant increase of 33% to $2.1 billion, aided by divestiture gains and improved segment performance.
- 5The company returned $1.3 billion to shareholders through share repurchases and $458 million in dividends during the fiscal year.
- 6Significant risk factors include intense competition, global economic conditions, foreign currency volatility, and ongoing FCPA investigations.
- 7The company's debt-to-capital ratio remained conservative at 23% as of September 30, 2011.