Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Harman International Industries Q3 Profit Surges - Quick Facts

Harman International Industries Inc (HAR: Quote) 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.

Register
To receive FREE breaking news email alerts for Harman International Industries Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A number of major retailers will be open on Thanksgiving for early Black Friday shopping events. Kohl's department stores will kick off Black Friday sales two hours earlier this year, at 6 p.m. Thanksgiving Day, while Macy's, Bon-Ton and Best Buy will open at the same time. J.C. Penney and Sears... Twitter Inc. has replaced its head of product Daniel Graf just six months after luring him over from Google, according to multiple reports. Graf, previously known for his work leading Google Maps, will retain his vice president of product title and work on Twitter's geolocation features, the Wall... LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.