Harman Shares Fall on EPS Guidance (HAR)

Harman Shares Fall on EPS Guidance (HAR)

RSS

Audio and electronic products company, Harman International(HAR) reported declined Q2 profits and in-line revenue on Wednesday.

The Stamford, CT based company reported second quarter earnings of $47 million, or 68 cents per share, down from $59 million, or 82 cents per share. Excluding special items, EPS was 59 cents per share

Revenue for the quarter came in $1.06 billion, matching analysts estimates.

Looking ahead, the company expects to see FY2013 earnings in the range of $2.70 to $2.90 per share. Revenue is expected to be in the range of $4.175 billion to $4.250 billion. Analysts are expecting $4.27 billion in revenue and earnings of $3.37 per share.

Harman shares were down -$5.38, or -10.92% during premarket trading Thursday. The stock has increased 13% in the past year.

The Bottom Line
Shares of Harman International(HAR) have a 1.22% yield, based on Wednesday’s closing price of $49.28.

Harman Internationalp(HAR)is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Free Updates

Join over 100,000 investors who get the latest news from Dividend.com.

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today