logo
Share SHARE
FONT-SIZE Plus   Neg

Harman International Industries Q3 Profit Surges - Quick Facts

Harman International Industries Inc (HAR) reported that its third-quarter net income was $172.66 million or $2.38 per share, up from $36.60 million or $0.51 per share in the same quarter last year. The company said that release of a deferred tax asset valuation allowance increases earnings per share by $1.71 to $2.38.

Non-GAAP earnings per share increased to $0.74 from $0.60 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.67 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter rose to $1.096 billion from $948.20 million in the prior year quarter. Two analysts had consensus revenue estimate of $1.04 billion for the quarter.

Harman International Industries also declared a cash dividend on April 30, 2012 of $.075 cents per share for the third quarter ended March 31, 2012. The quarterly dividend will be paid on May 24, 2012, to each stockholder of record as of the close of business on May 10, 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Low-cost airline Allegiant Air announced its order for brand-new aircraft for the first time in its history. The carrier announced on Friday it had reached a deal to purchase 12 current-generation models of Airbus' A320 narrow-body jets. The company termed the deal as "another step towards Allegiant's... Los Angeles City officials have filed criminal charges against Soylent CEO Robert Rhinehart for placing a bright red shipping container on Montecito Heights hillside as part of his "experiment in sustainable living." City Attorney Mike Feuer Friday announced that his office has filed multiple criminal... A new study says that if Hillary Clinton is elected then her proposals will strengthen the U.S. economy and create millions of jobs. According to Moody's Analytics, Hillary Clinton's economic proposal would oversee a "somewhat stronger U.S. economy." The conclusion was reached after assessing her...
comments powered by Disqus
Follow RTT