Harman International Ind. Inc. Earnings Cheat Sheet: Revenue and Net Income Climb

S&P 500 (NYSE:SPY) component Harman International Ind. Inc. (NYSE:HAR) reported its results for the fourth quarter. Harman International Industries Inc. is a global audio equipment company. It is engaged in the design, development, manufacturing and marketing of high-quality audio products. It also offers electronic systems for vehicle applications.

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Harman International Ind Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for the electronic equipment company rose to $19 million (26 cents per share) vs. $18 million (26 cents per share) a year earlier. This is a rise of 2% from the year earlier quarter.

Revenue: Rose 21% to $1.03 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: HAR fell short of the mean analyst estimate of 42 cents per share. It beat the average revenue estimate of $963.6 million.

Quoting Management: Dinesh C. Paliwal, the Company’s Chairman, President and CEO, said, “With a double digit sales increase and operating income more than doubling, we are proud of our continued improvements to the top and bottom line for the year. With 200 new patent disclosures this year added to our 2,500 active patents, our investments in research and development continue to create a competitive advantage and growth opportunity while enhancing our position as one of the world’s leading technology companies. We believe that our leadership in technology and our rapid emerging market growth will enable the Company to prosper, even in a continued difficult global macro-economic environment.”

Competitors to Watch: Panasonic Corp. (NYSE:PC), Sony Corporation (NYSE:SNE), Audiovox Corporation (NASDAQ:VOXX), Koss Corporation (NASDAQ:KOSS), Emerson Radio Corp. (AMEX:MSN), Apple Inc. (NASDAQ:AAPL), and Mad Catz Interactive, Inc. (AMEX:MCZ).

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(Source: Xignite Financials)