Harman revenue rises on robust demand for car audio products
Oct 30 (Reuters) - Audio product maker Harman International Industries Inc reported a 22 percent jump in quarterly revenue, helped by strong sales of car audio products.
Net income attributable to the company rose to $83 million, or $1.18 per share, in the first quarter ended Sept. 30, from $46.5 million, or 66 cents per share, a year earlier.
Harman, home to brands such as JBL and Harman Kardon, said revenue rose to $1.43 billion in the quarter from $1.17 billion a year earlier.
The company also said its board had authorized a three-year $500 million share buyback program.
Harman also named Sandra Rowland chief financial officer. Rowland, a senior executive at the company, will succeed Herbert Parker, who will remain on the executive committee, Harman said.
(Reporting by Sai Sachin R and Abhirup Roy in Bangalore; Editing by Simon Jennings)
