Harman International Industries Inc. Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Harman International Industries, Inc. (NYSE:HAR) will unveil its latest earnings on Tuesday, February 7, 2012. 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 profit of 76 cents per share, a decline of 3.8% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. For the year, analysts are projecting net income of $2.79 per share, a rise of 34.1% from last year.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the first quarter, it reported profit of 69 cents per share against a mean estimate of net income of 50 cents per share. In the fourth quarter of the last fiscal year, it missed forecasts by 8 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 9.8% in revenue from the year-earlier quarter to $1.05 billion.

Analyst Ratings: two out of three analysts surveyed (66.7%) have a buy rating on Harman International Industries, Inc./DE.. This is below the mean analyst rating of 10 competitors, which average 89.6% buy ratings.

A Look Back: In the first quarter, profit rose 76.6% to $48.4 million (67 cents a share) from $27.4 million (39 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 25.5% to $1.05 billion from $836.9 million.

Key Stats:

Revenue has risen the past four quarters. Revenue rose 25.5% in the fourth quarter of the last fiscal year from the year earlier, climbed 11.8% in the third quarter of the last fiscal year from the year-ago quarter and 2% in the second quarter of the last fiscal year.

The increase in profit in the first quarter came after net income fell in the previous quarter. In the fourth quarter of the last fiscal year, net income fell 85.9%.

Stock Price Performance: During January 3, 2012 to February 1, 2012, the stock price had risen $4.99 (12.9%) from $38.77 to $43.76. The stock price saw one of its best stretches over the last year between January 4, 2012 and January 12, 2012 when shares rose for seven-straight days, rising 6.6% (+$2.53) 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% (-$8.08) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com