Harman International Industries, Inc. First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Harman International Industries, Inc. (NYSE:HAR) will unveil its latest earnings on Friday, October 21, 2011. Harman International Industries 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.

Harman International Industries, Inc./DE/ Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 50 cents per share, a rise of 42.9% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 52 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 50 cents during the last month. Analysts are projecting profit to rise by 22.6% versus last year to $2.55.

Past Earnings Performance: Last quarter, the company missed estimates by 8 cents, coming in at profit of 34 cents per share versus a mean estimate of net income of 42 cents per share. In the third quarter of the last fiscal year, the company beat estimates by 14 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 14.8% in revenue from the year-earlier quarter to $960.6 million.

Analyst Ratings: Analysts are bullish on Harman International Industries, Inc./DE as two analysts rate it as a buy, none rate it as a sell and two rate it as a hold. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.

A Look Back: In the fourth quarter of the last fiscal year, profit fell 85.9% to $18.9 million (26 cents a share) from $133.9 million ($1.90 a share) the year earlier, missing analyst expectations. Revenue rose 25.5% to $1.03 billion from $821.3 million.

Key Stats:

Revenue has risen the past four quarters. Revenue rose 11.8% in the third quarter of the last fiscal year from the year earlier, climbed 2% in the second quarter of the last fiscal year from the year-ago quarter and 10.5% in the first quarter of the last fiscal year.

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).

Stock Price Performance: During July 22, 2011 to October 17, 2011, the stock price had fallen $9.82 (-21.5%) from $45.71 to $35.89. The stock price saw one of its best stretches over the last year between October 7, 2011 and October 14, 2011 when shares rose for six-straight days, rising 23.1% (+$7.03) over that span. It saw one of its worst periods between July 21, 2011 and August 2, 2011 when shares fell for nine-straight days, falling 17.3% (-$8.09) over that span. Shares are down $10.26 (-22.2%) year to date.

(Source: Xignite Financials)

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