Harman International Industries Inc. (HAR) reported net income of $16 million or $0.23 per share for the second quarter, compared to a loss of $319 million or $5.45 per share in the prior year quarter.
Non-GAAP net income was $28 million or $0.40 per share, compared to a loss of $13 million or $0.21 per share in the previous year quarter.
Net sales for the quarter grew 24% to $937 million from $756 million in the year-ago quarter. Excluding foreign currency translation, net sales increased by 15%.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.07 per share on revenue of $811.19 million for the quarter. Analysts' estimates typically exclude special items.
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