Harman Profit Jumps
Harman International Thursday posted a huge increase in profit for the second fiscal quarter, earning a $53 million profit compared with $13 million the same period the year before. The company also posted a three percent increase in net sales.
“We are executing our strategic plan very well and have achieved a fifth consecutive quarter of top and bottom line growth,” CEO Dinesh C. Paliwal said as part of the earnings announcement. "We are now clearly seeing the results of the transformation we have engineered at Harman."
The results beat analyst estimates, according to Reuters.