News

Record Q4: Harman International Industries, Inc. (NYSE:HAR) announced record results for the fourth quarter and full fiscal year 2005. Net sales for the quarter were $808 million, compared to $732 million during the same prior year period, an increase of 10%. Net income for the three months was $70.2 million, a 32% increase above the $53 million earned in the fourth quarter last year.

For the fiscal year ended June 30, 2005, net sales were $3.03 billion, an increase of 12% compared to $2.71 billion in the prior year. Net income rose 47% to $232.8 million versus $157.9 million. Earnings per diluted share were $3.31 for the fiscal year, compared to $2.27 a year ago.

A lot of the year's success can be attributed to product streamlining and the performance of the automotive division, which launched a new infotainment system for Audi. Automotive net sales for the fiscal year were $2.13 billion versus $1.87 billion one year ago, a 13% rise. Automotive operating income was $348.1 million versus $308.9 million last year. Consumer net sales also increased 17% to $418.3 million, compared to $356.6 million last year. Consumer operating income was $26.7 million versus an operating loss of $13 million last year. Professional sales didn't increase much at $487 million versus $481.7 million a year ago, but professional operating income was $45.5 million compared to $9.9 million last year, a change attributed to the elimination of lower-margin products this year.

NHT goes to the movies: If you go see Broken Flowers, pay close attention to the home of Bill Murray's Don Johnston. You'll spot a pair of NHT floorstanding loudspeakers behind Johnston's flatscreen TV. Big freaking deal, we hear you saying. But it could be. "In an effort to drive both cinephiles to the theater and NHT-faithful to the company’s website," NHT's press release announced, "NHT is sponsoring a special contest. From August 20–September 15, visitors to www.nhthifi.com will have an opportunity to identify the specific model of the speaker in the film. When all entries are in, all correct respondents will be entered into a drawing on September 19 to win a pair of the same (or similar) tower speakers, while five runners-up will receive a copy of the CD soundtrack. (This promotion is neither sponsored nor endorsed in whole or part by Focus Features®, writer/director Jim Jarmusch, Bill Murray, or any other parties affiliated with the film.)"

We were planning on catching the movie anyway, but free stuff? We are so there.