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Harman's revenue rises as car audio system sales jump

Thursday, 31 Oct 2013 | 8:13 AM ET

Oct 31 (Reuters) - Harman International Industries Inc reported a 17 percent rise in quarterly revenue as demand rose for its audio equipment from luxury carmakers such as Daimler AG, Ferrari and Volkswagen's Audi.

Revenue rose to $1.17 billion in the first quarter ended Sept. 30, from $998 million a year earlier.

Net income fell to $46 million, or 66 cents per share, from $55 million, or 79 cents per share, a year earlier.

The company, known for brands such as JBL and Harman Kardon, recorded restructuring and non-recurring charges of $24 million in the latest reported quarter.

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