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TheStreet Open House

Harman International Industries' CEO Presents At JPMorgan 2012 Auto Conference (Transcript)

Stocks in this article: HAR

Talked about GM, another thing which is very critical for the sustainable future success of any company and which we're very proud to mention that, we are very technology innovation driven company. I don’t know any company close to what we are doing. In our pipeline, we added some 600 patents and patents filing during fiscal 2012.

In last five years, we have added more patents than an entire company's history. Actually our patents portfolio grew more than twice in last five years and during this five years, as you all know sitting in this room, we have experienced a lifetime’s worst recession. But that did not deter us from investing in innovation technology. We also doubled our annual dividend from $0.30 to $0.60, and we also executed buyback during this last quarter.

Now, it’s just a reminder, you’ve seen it many times, so I won’t spend much time. We finished the year with $4.4 billion, last 12 months EBITDA close to 10% with 13,400 people, half of our employees now are in high-growth emerging markets.

This is just Q4 and full year financials, I won’t spend too much time. You have the book, if you’re not please pick it up on your way out. Good thing is we’re growing in all areas and we are market leader in all three divisions, Infotainment, Lifestyle, that is car audio and home and multimedia, and in our professional audio business where we are clear market leader and generate double-digit operating margin year-over-year.

This is again, we are very happy that we have now 11 consecutive quarters of top line growth of 18% CAGR and bottom line EBITDA has grown 245% during 11 quarters. This is clearly an effort we put in few years ago and are starting to pay-off. We took lot of cost out and we invested heavily in technology, and we invested heavily in organic growth that is our BRIC country footprint. we are big player in Hungary, big player in Mexico, big player in China, and big player in Brazil and India now.

Read the rest of this transcript for free on seekingalpha.com

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