Harman International Industries Inc. (HAR) first-quarter net loss was $9 million or $0.14 per share, compared with a net income of $21 million or $0.36 per share in the year-ago period.
On a non-GAAP basis, net loss for the first quarter was
$4 million or $0.05 per share, compared with a net income in the year ago period of $28 million or $0.47 per share.
Analysts polled by Thomson Reuters estimated a loss of $0.23 per share. Analysts' estimates typically exclude one-time items.
Net sales for the first quarter declined to $757 million from $869 million in the year-ago period. Five analysts expected revenues of $693.32 million.
For comments and feedback: editorial@rttnews.com