NEW YORK (MarketWatch) Johnson Controls Inc. said Thursday its first-quarter profit rose to $410 million, or 60 cents a share, from $375 million, or 55 cents a share, in the year-ago period
The industrial company's sales increased to $10.42 billion from $9.54 billion
Wall Street analysts expected the maker of climate control systems and automotive components to earn 62 cents a share on revenue of $10.53 billion, according to a survey by FactSet Research Looking ahead, Johnson Controls said it expects second-quarter profit of 52 cents to 54 cents a share, below the analyst estimate of 70 cents a share
The Milwaukee-based conglomerate also cut its 2012 earnings target to $2.70 to $2.85 a share, from its earlier estimate of $2.85 to $3 a share. Analysts expect 2012 earnings of $2.93 a share

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