Harman International Industries (HAR) has a market cap of $7.7 billion. It rose 0.10% and closed at $111.08 per share on January 26, 2017. The stock’s weekly, monthly, and YTD (year-to-date) price movements were 0.48%, 0.11%, and -0.07%, respectively, on the same day. Harman International is trading 0.23% above its 20-day moving average, 1.2% above its 50-day moving average, and 27.4% above its 200-day moving average.
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Performance in fiscal 2Q17
Harman International reported fiscal 2Q17 net sales of $1.95 billion—a rise of 9.9% compared to net sales of $1.77 billion in fiscal 2Q16. It includes the impact of foreign exchange. The sales of connected car, lifestyle audio, connected services, and professional solutions rose 4.3%, 19.3%, 12.3%, and 2.8%, respectively, in fiscal 2Q17—compared to fiscal 2Q16. The company’s gross profit margin rose by 40 basis points, while its operating margin narrowed by 10 basis points in fiscal 2Q17—compared to the same period last year.
Its net income and EPS (earnings per share) fell to $99.4 million and $1.39, respectively, in fiscal 2Q17—compared to $112.9 million and $1.55, respectively, in fiscal 2Q16. It reported adjusted EPS of $2.22 in fiscal 2Q17—a rise of 20.7% compared to fiscal 2Q16.
Harman’s cash and cash equivalents and inventories rose 13.5% and 11.5%, respectively, between fiscal 2Q17 and fiscal 4Q16.
Harman International Industries declared a quarterly cash dividend of $0.35 per share on its common stock. The dividend is payable on February 22, 2017, to shareholders of record at the close of business on February 6, 2017.
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