Advertisement
U.S. markets open in 7 hours 10 minutes
  • S&P Futures

    5,207.25
    -7.50 (-0.14%)
     
  • Dow Futures

    39,201.00
    -22.00 (-0.06%)
     
  • Nasdaq Futures

    18,179.00
    -52.50 (-0.29%)
     
  • Russell 2000 Futures

    2,048.10
    -1.70 (-0.08%)
     
  • Crude Oil

    82.49
    -0.23 (-0.28%)
     
  • Gold

    2,157.80
    -6.50 (-0.30%)
     
  • Silver

    25.09
    -0.17 (-0.69%)
     
  • EUR/USD

    1.0868
    -0.0008 (-0.08%)
     
  • 10-Yr Bond

    4.3400
    0.0000 (0.00%)
     
  • Vix

    14.33
    -0.08 (-0.56%)
     
  • GBP/USD

    1.2709
    -0.0019 (-0.15%)
     
  • USD/JPY

    150.2520
    +1.1540 (+0.77%)
     
  • Bitcoin USD

    65,204.81
    -3,279.96 (-4.79%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,722.55
    -4.87 (-0.06%)
     
  • Nikkei 225

    40,003.60
    +263.20 (+0.66%)
     

Harman International (HAR) Beats Q2 Earnings, Revenue up Y/Y - Tale of the Tape

Harman International Industries Inc. (HAR) is engaged in the development, manufacturing and marketing of audio products, lighting solutions, electronic systems & digitally integrated audio and infotainment systems. The company offers a broad range of products under popular brand names including Aha, Harmon/Kardon and JBL.

 

Apart from audio equipment, Harman’s cloud platform and scalable technology are gaining popularity with the rise in numbers of connected cars. This, along with the company’s powerful brand portfolio, is a major growth driver.

 

However, the automotive market — contributes approximately 69% of Harman’s net sales — faces several challenges. The market is currently witnessing a certain amount of volatility primarily due to the economic downturn, which directly impacts the company’s results.

 

Harman is also exposed to significant customer concentration risks with its top four customers accounting for approximately half of its revenues. This is a concern as the loss of any one of these customers would significantly dent revenues. Also, the company does not have long-term contracts with these automakers, which is another cause of concern.

 

Zacks Rank: Currently, Harman has a Zacks Rank#4 (Sell) but that could change following its fourth quarter 2014 earnings report which has just released.

 

We have highlighted some of the key details from the just-released announcement below:

 

Earnings: Harman beat on earnings. Adjusted Earnings per share came in at $1.79, higher than the Zacks Consensus Estimate of $1.29. Earnings also increased from $1.09 in the year ago quarter.

 

Revenue: Revenues of $1,584 million came above the Zacks Consensus Estimate of $1,495 million and grew 19% year over year.

 

Key Stats: Operating margin of the company increased of 140 basis points driven by a higher revenue base.

 

Stock Price: Shares prices did not show any movement in the pre-market trading session.

Check back later for our full write up on this ROP earnings report later!

 

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
HARMAN INTL IND (HAR): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Advertisement