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Harman issues FY2014 guidance and provides FY2016 outlook

FY2014 sales of ~$4,700 million; ~10.5% EBITDA; and EPS of ~$3.85 FY2016 sales of ~$6,050 million and ~13% EBITDA HARMAN, the leading global audio and infotainment group (NYSE: HAR), today provided guidance for the fiscal year ending June 30, 2014 as well as a longer term outlook for the fiscal year ending June 30, 2016. The Company noted that this guidance will be … Continued

  • FY2014 sales of ~$4,700 million; ~10.5% EBITDA; and EPS of ~$3.85
  • FY2016 sales of ~$6,050 million and ~13% EBITDA

HARMAN, the leading global audio and infotainment group (NYSE: HAR), today provided guidance for the fiscal year ending June 30, 2014 as well as a longer term outlook for the fiscal year ending June 30, 2016.

The Company noted that this guidance will be discussed today at its Investor Day event in New York City, for which details are provided below. An audio webcast, as well as copies of the materials, will be available in conjunction with the business update beginning at 11:00 a.m. EDT today. The webcast and materials may be accessed through the Investor Relations page of HARMAN’s website.

Dinesh C. Paliwal, President, Chairman, and Chief Executive Officer of HARMAN, said, “As our customers assess the wide range of technologies available to meet the future demands of the connected car, they continue to choose HARMAN as their preferred embedded infotainment partner for the long term. Our record high $20 billion backlog of awarded business is a clear validation of automakers’ confidence in HARMAN’s technology strategy to meet the evolving needs for solutions that are connected, safe, and intelligent. With a strong innovation pipeline and a proven execution track record, we continue to improve our profitability and are creating value for our shareholders.”

ConsolidatedInfotainment DivisionLifestyle DivisionProfessional Division
Fiscal Year 2014 Guidance
Revenues~$4,700M~$2,460M~$1,425M~$815M
EBITDA~10.5%~10.5%~14.1%~16.8%
Earnings Per Share~$3.85
Fiscal Year 2016 Forecast
Revenues~6,050M~$3,400M~$1,700M~$950M
EBITDA~13.0%~13.0%~17.0%~19.0%

Key planning assumptions for FY2014 and FY2016 are outlined in the Investor Day materials.

Investor Day and Guidance Discussion — Thursday, August 8, 2013

HARMAN is holding an Investor Day with the institutional investment community today at the Museum of Jewish Heritage located at 36 Battery Pl, New York, NY.

The Company’s Executive Management Team will outline HARMAN’s long-term strategy and will provide financial guidance for fiscal year 2014, as well as a longer-term outlook.

Investors and members of the investment community are invited to listen to the discussion via a live webcast. To access the webcast please go to http://investor.harman.com/events.cfm.

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