Harman International Industries Inc (NYSE:HAR), based in Stamford, Connecticut, reported that net income in the fourth-quarter over doubled on strong demand for products used in luxury cars and also due to boosting sales in mainstream autos .
Harman International made $49 million or 69 cents a share in the three months period ending June 30, evaluated against $19 million or 26 cents a share in the previous year. The company reported that revenue moved up 6% to $1.091 billion.
The automotive electronics and audio equipment maker made 67 cents a share without restructuring costs. That surpasses Wall Street forecasts. FactSet analyst’s survey forecasted 65 cents a share.
Harman made $330 million or $4.57 a share for the full fiscal year, evaluated against $136 million or $1.90 a share in a year ago.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Sony Corporation (ADR) (NYSE:SNE) rose +3.01% to settle at $12.34, Panasonic Corporation (ADR) (NYSE:PC) moved up +1.78% to end at $7.43 while Mad Catz Interactive, Inc (USA) (NYSE:MCZ) decreased -3.81% to finish on Friday at $0.631.
Harman International Industries Inc /DE/ (NYSE:HAR) on Aug, 10, 2012 increased +7.46% to the closing price of $45.68. The overall volume in the last trading session was 1.94 million shares. Its fifty two week range was $25.53-$52.75. The total market capitalization remained $3.22 billion.
HAR is ahead its 52 week low with +79.82% and lagging behind from its 52 week high price with -13.26%. HAR last month stock price volatility remained 3.24%. In its share capital HAR has 70.48 million outstanding shares among them 70.09 million shares have been floated in market exchange. HAR stock insider ownership included 0.08%.
The stock price of HAR is moving forward from its 20 days moving average with +15.38% and remote positively from 50 days moving average with +17.87%. HAR current year earnings per share experienced an addition with +280.75% while its current quarter performance remained +6.68%. Company’s beta coefficient included 2.16. Beta factors measures the amount of market risk associated with market trade.
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