* Q2 adj EPS $0.79 vs est $0.52
* Q2 rev $956.1 mln vs est $963.1 mln
* Shares up 4 pct pre-market
Feb 3 (Reuters) - Harman International Industries Inc’s HAR.N quarterly profit beat analysts’ estimates, helped by higher gross margins, and the audio products company said profitability was improving across all its divisions.
“Our $13 billion in awarded business gives us excellent confidence in our revenue stream going forward,” Chief Executive Dinesh Paliwal said in a statement.
The company’s second-quarter net income from continuing operations was $53 million, or 74 cents a share, compared with a profit of $13 million or $19 cents a share last year.
Harman, whose brands include Harman Kardon, JBL, Mark Levinson and Infinity, posted net sales of $956.1 million, up 3 percent from last year.
October-December sales at Harman’s automotive segment were $664 million, and made up 69 percent of quarterly sales.
Gross margins improved by 1 percent to 28.1 percent.
Excluding special items, the company earned 79 cents a share.
Analysts, on average, were looking for earnings of 52 cents a share, excluding special items, on revenue of $963.1 million, according to Thomson Reuters I/B/E/S.
The company’s shares, which have risen 44 percent over the last six months, were up 4 percent at $45.44 in premarket trade. They closed at $43.50 on Wednesday on the New York Stock Exchange.
For the alerts, double click here. [ID:nASA01HTN] (Reporting by Saqib Iqbal Ahmed in Bangalore; Editing by Maju Samuel)