Harman International Industries Inc. Quarterly Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Harman International Industries, Inc. (NYSE:HAR) will unveil its latest earnings on Wednesday, August 10, 2011. 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.

Harman International Industries, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 42 cents per share, a rise of 40% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 41 cents. Between one and three months ago, the average estimate moved down, but has risen from 40 cents during the last month. For the year, analysts are projecting profit of $2.20 per share, a rise of more than twofold from last year.

Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked net income of 60 cents per share versus a mean estimate of profit of 46 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $963.6 million in revenue this quarter, a rise of 13.3% from the year ago quarter. Analysts are forecasting total revenue of $3.7 billion for the year, a rise of 10.1% from last year’s revenue of $3.36 billion.

Analyst Ratings: Analysts seem relatively indifferent about Harman International Industries, Inc./DE with four of six analysts surveyed maintaining a hold rating.

Key Stats:

Revenue has risen the past four quarters. Revenue increased 11.8% to $948.2 million in third quarter. The figure rose 2% in the second quarter from the year earlier, climbed 10.5% in the first quarter from the year-ago quarter and 23% in the fourth 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 7, 2011 to August 4, 2011, the stock price had dropped $12.05 (-25.1%) from $47.93 to $35.88. The stock price saw one of its best stretches over the last year between October 7, 2010 and October 15, 2010 when shares rose for seven-straight days, rising 8.1% (+$2.69) 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% (-$8.11) over that span. Shares are down $10.37 (-22.4%) year to date.

(Source: Xignite Financials)

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