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Article: Harman International Profit Soars 60 Percent in 1995
- Article from:
- The Washington Post
- Article date:
- August 17, 1995
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Harman International Corp. reported that its profit soared 60
percent in the 1995 fiscal year ending June 30 on sales that passed
the billion-dollar mark for the first time.
Harman, a maker of high-end stereo equipment for home, auto and
professional use, said its net profit was $41.2 million ($2.70 a
share), compared with $25.7 million ($1.92) in 1994.
Sales for the year were almost $1.2 billion, up from $862 million
the year before. Part of the gains reflected the acquisition of
Becker GmbH during the year. Excluding the Becker revenue, sales for
the rest of the company rose 24 percent.
In a statement, Chairman Sidney Harman said strong gains were
posted in the consumer and professional ...