HARMAN 4Q And FY2012 Results Supporting Slide Deck

Harman International Industries, Incorporated, the leading global audio and infotainment group (NYSE: HAR), today announced results for the fourth quarter and fiscal year ended June 30, 2012. In a separate release, the Company updated its fiscal 2013 guidance for foreign currency changes; on a constant currency basis, the Company confirmed its previous guidance.

Net sales for the fiscal year were $4.4 billion, an increase of 16 percent compared to the prior year. In local currency, net sales increased by 17 percent. On a GAAP basis, operating profit increased by 58 percent to $300 million compared to $190 million in the prior year. Excluding restructuring expenses, annual operating profit was $310 million, an increase of 47 percent compared to $211 million in the prior year. On a non-GAAP basis, earnings per diluted share were $2.93 for the year, an increase of 41 percent versus $2.08 reported in the prior year. On a GAAP basis, which includes the benefit from a tax asset valuation allowance release, earnings per diluted share were $4.57 for the year compared to $1.90 in the prior year.

Net sales for the fourth quarter were $1,091 million, an increase of 6 percent compared to the same period last year. In local currency, net sales increased by 14 percent. Fourth quarter operating income was $71 million, compared to $26 million in the same period last year. Excluding restructuring charges, operating profit in the fourth quarter grew by 101 percent to $70 million, compared to $35 million in the same period last year. On a non-GAAP basis, earnings per diluted share were $0.67 for the quarter compared to $0.34 in the same period last year. On a GAAP basis, earnings per diluted share were $0.69 for the quarter compared to $0.26 in the same period last year. The Company further noted $0.02 negative impact of currency on EPS which was offset by the positive benefit of share buyback activity during the quarter.

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