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Harman's 2nd-Quarter Profit More Than Doubles

Regional Earnings

February 08, 1994

Harman International Industries, a Northridge-based maker of audio speaker systems, said its fiscal second-quarter profit more than doubled from a year earlier.

For the quarter ended Dec. 31, the company posted a profit of $6.8 million, up from $3.3 million in the same quarter a year earlier. Sales in the latest quarter surged 26% to $222.7 million from $177.3 million.

For the six months ended Dec. 31, Harman posted a profit of $7.86 million, up 300% from earnings of $1.97 million in the same period a year earlier. Six-month sales climbed 20% to $386.4 million from $322.1 million. The company said the increase reflects its recent acquisition of AKG as well as strong performances in its automotive, consumer and professional group sales.

Harman also said the company's manufacturing plant in Northridge, despite being near the Jan. 17 earthquake's epicenter, did not sustain significant damage and was in full operation.

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