Incorporated in 1980, Harman International Industries Inc. is engaged in the development, manufacturing and marketing of audio products, lighting solutions, electronic systems & digitally integrated audio and infotainment systems. The company offers a broad range of products under popular brand names including Aha, Harmon/Kardon and JBL. Harman reported sales of $6.91 billion in fiscal 2016.

From Jul 1, 2015, the company is reporting under 4 segments namely -Connected Car, Lifestyle Audio , Connected services and Professional Solutions divisions.

Zacks Rank: Currently, Harman has a Zacks Rank#4 (Sell) but that could change following its first-quarter fiscal 2017 earnings report which has just released.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here

We have highlighted some of the key details from the just-released announcement below:

Earnings: Non-GAAP earnings per share came in at $1.87, way ahead of the Zacks Consensus Estimate of $1.54. Earnings increased 27% from the year ago quarter.

Revenue: Revenues of nearly $1.760 billion surpassed the Zacks Consensus Estimate of $1.733 billion and improved nearly 8% year over year.

Key Stats: Non-GAAP gross margin of the company improved by 80 basis points to 30.8% in the quarter.

HARMAN INTL IND Price

HARMAN INTL IND Price | HARMAN INTL IND Quote

Check back later for our full write up on this HAR earnings report later!

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