Johnson Controls posts lower profit
Jan 18 (Reuters) - Johnson Controls Inc's quarterly profit fell 17 percent and the largest U.S. auto parts supplier forecast further declines, citing weakness in Europe.
Net income fell to $354 million, or 52 cents per share, in the first quarter, from $424 million, or 62 cents per share, a year earlier.
The company forecast second-quarter profit of 40 cents to 42 cents per share, below analysts' expectations of 51 cents, according to Thomson Reuters I/B/E/S.
Jan 18- Johnson Controls Inc's quarterly profit fell 17 percent and the largest U.S. auto parts supplier forecast further declines, citing weakness in Europe. Net income fell to $354 million, or 52 cents per share, in the first quarter, from $424 million, or 62 cents per share, a year earlier.