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HARMAN Issues FY2014 Guidance And Provides FY2016 Outlook

HARMAN, the leading global audio and infotainment group (NYSE: HAR), today provided guidance for the fiscal year ending June 30, 2014 as well as a longer term outlook for the fiscal year ending June 30, 2016.

The Company noted that this guidance will be discussed today at its Investor Day event in New York City, for which details are provided below. An audio webcast, as well as copies of the materials, will be available in conjunction with the business update beginning at 11:00 a.m. EDT today. The webcast and materials may be accessed through the Investor Relations page of HARMAN’s website.

Dinesh C. Paliwal, President, Chairman, and Chief Executive Officer of HARMAN, said, “As our customers assess the wide range of technologies available to meet the future demands of the connected car, they continue to choose HARMAN as their preferred embedded infotainment partner for the long term. Our record high $20 billion backlog of awarded business is a clear validation of automakers' confidence in HARMAN’s technology strategy to meet the evolving needs for solutions that are connected, safe, and intelligent. With a strong innovation pipeline and a proven execution track record, we continue to improve our profitability and are creating value for our shareholders."

                                 
       

Consolidated

     

Infotainment Division

     

Lifestyle Division

     

Professional Division

Fiscal Year 2014 Guidance

                       

Revenues

~$4,700M ~$2,460M ~$1,425M ~$815M

EBITDA

~10.5% ~10.5% ~14.1% ~16.8%

Earnings Per Share

~$3.85
 

Fiscal Year 2016 Forecast

Revenues

~6,050M ~$3,400M ~$1,700M ~$950M

EBITDA

      ~13.0%       ~13.0%       ~17.0%       ~19.0%
 

Key planning assumptions for FY2014 and FY2016 are outlined in the Investor Day materials.

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