Harman's revenue rises as car audio system sales jump

Thu Oct 31, 2013 8:13am EDT

Oct 31 (Reuters) - Harman International Industries Inc reported a 17 percent rise in quarterly revenue as demand rose for its audio equipment from luxury carmakers such as Daimler AG, Ferrari and Volkswagen's Audi.

Revenue rose to $1.17 billion in the first quarter ended Sept. 30, from $998 million a year earlier.

Net income fell to $46 million, or 66 cents per share, from $55 million, or 79 cents per share, a year earlier.

The company, known for brands such as JBL and Harman Kardon, recorded restructuring and non-recurring charges of $24 million in the latest reported quarter.