News: Harman International Industries Inc (HAR)
19 Jun 2013
Thu, May 2 2013
- Audio systems maker Harman International Industries Inc, whose brands include JBL and Harman Kardon, raised its earnings forecast for the year ending June, and said it will shift more jobs to lower-cost countries in the next five years.
* Raises full-year 2013 EPS forecast to $3 from $2.70-$2.90
May 2 - Audio systems maker Harman International Industries Inc, which owns brands such as JBL and Harman Kardon, reported a 80 percent drop in quarterly profit as lower automotive production in Western Europe hit revenue in the company's biggest business.
- Audio systems maker Harman International Industries Inc slashed its full-year outlook and said it would cut up to 9 percent of its workforce after second-quarter profit missed Street estimates due to lower sales to European carmakers.
* Second-quarter adjusted earnings $0.59/share vs est $0.86
(Corrects paragraph 1 to say profit fell 20 percent, not 32 percent; corrects net income figure in paragraph 2 to $47 mln from $41 million)
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