A simpler, more focused Harman International Industries (NYSE: HAR) is going from bent to strength.
The audio again entertainment scientific sold the QNX operating system to Research In Motion (Nasdaq: RIMM) last spring and proceeded to hunker down on its core operations with a rejuvenated balance sheet at its back. That modify is paying off today.
Harman opportune reported a stellar second quarter, sending the stock emolument skyward by more than 13%. Sales grew just 3% year-over-year to $956 million, but scrimpy cost controls and the aforementioned simplification of Harman's operations led to nearly four times the GAAP earnings, at $0.74 per share.
The troop is whipping up an R&D and manufacturing field in northern China spell order to fuel pan-Asian expansion. That's apt peerless of many projects aimed at putting Harman infotainment systems in more cars over the ulterior few years.
At the Consumer Electronics Show connections January, Harman unveiled a 4G data-streaming solution for in-car radio besides convivial media presentation pressure a partnership ditch Sierra Wireless (Nasdaq: SWIR). The convoy is suspicious supplier awards from Volkswagen also describes Toyota Motor (NYSE: TM) being a "long-term partner." Harman has absolute functioning on agency the automotive space.
That push could make Harman a significant challenge to Sirius XM (Nasdaq: SIRI) as the company puts Internet-based premium radio at the fingertips of millions of drivers. for again, Harman has a saga of making its audio systems compatible with satellite radio, perhaps paving the advent to a booming partnership somewhat than thoroughgoing competition. Carmakers would be inventive to give customers both options right outer of the lot, leaving it to the usual market forces to finish a winner leverage the satellite-versus-Internet radio rivalry.
Add Harman to your wacky watchlist and happen the company's travails in China, in-car entertainment, and beyond.
The audio again entertainment scientific sold the QNX operating system to Research In Motion (Nasdaq: RIMM) last spring and proceeded to hunker down on its core operations with a rejuvenated balance sheet at its back. That modify is paying off today.
Harman opportune reported a stellar second quarter, sending the stock emolument skyward by more than 13%. Sales grew just 3% year-over-year to $956 million, but scrimpy cost controls and the aforementioned simplification of Harman's operations led to nearly four times the GAAP earnings, at $0.74 per share.
The troop is whipping up an R&D and manufacturing field in northern China spell order to fuel pan-Asian expansion. That's apt peerless of many projects aimed at putting Harman infotainment systems in more cars over the ulterior few years.
At the Consumer Electronics Show connections January, Harman unveiled a 4G data-streaming solution for in-car radio besides convivial media presentation pressure a partnership ditch Sierra Wireless (Nasdaq: SWIR). The convoy is suspicious supplier awards from Volkswagen also describes Toyota Motor (NYSE: TM) being a "long-term partner." Harman has absolute functioning on agency the automotive space.
That push could make Harman a significant challenge to Sirius XM (Nasdaq: SIRI) as the company puts Internet-based premium radio at the fingertips of millions of drivers. for again, Harman has a saga of making its audio systems compatible with satellite radio, perhaps paving the advent to a booming partnership somewhat than thoroughgoing competition. Carmakers would be inventive to give customers both options right outer of the lot, leaving it to the usual market forces to finish a winner leverage the satellite-versus-Internet radio rivalry.
Add Harman to your wacky watchlist and happen the company's travails in China, in-car entertainment, and beyond.
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