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Harman International Industries Inc. (HAR)
JPMorgan 2012 Auto Conference Call
August 14, 2012 10:00 am ET
Dinesh C. Paliwal – Chairman, President and Chief Executive Officer
Herbert K. Parker – Executive Vice President and Chief Financial Officer
Ryan Brinkman – JPMorgan Chase & Company
PresentationRyan Brinkman – JPMorgan Chase & Company
Our next presentation is going to be from Harman International. Harman is a leading provider of automotive infotainment systems, particularly growthy segment of the market. Harman’s Infotainment systems integrate telematics, navigation, entertainment and the vehicles growing array of active safety equipment as well. The firm is a leading provider of premium automotive, consumer and professional audio products as well.
Harman has the most attractive customer set of any company we cover. Its sales are principally levered to the growth in BMW and Audi brand vehicles around the world. Although the firm is also very quickly expanding into more mainstream brands as well as evidenced by a recent contract with General Motors.
The firm is coming off a strong fiscal 2012 with several exciting contract wins. It generated $4.4 billion in its most recent fiscal year and has a market cap of just over $3 billion. We’re happy to have Dinesh Paliwal, Harman’s Chairman, President and Chief Executive Officer with us; here with us as well is Herbert Parker, and you’re welcome to sit up here if you like; and Bob Lardon, Vice President, Investor Relations.