Harman International Industries' CEO Discusses F4Q12 Results - Earnings Call Transcript

Harman International Industries, Inc. (HAR)

F4Q12 Earnings Call

August 10, 2012, 11:00 a.m. ET

Executives

Dinesh C. Paliwal – Chairman, President and CEO

Herbert K. Parker – EVP and CFO

Analysts

Christopher Ceraso – Credit Suisse

Ryan Brinkman - JPMorgan

Ravi Shanker – Morgan Stanley & Co. LLC

Adam Brooks – Sidoti & Co. LLC

David Leiker – Robert W. Baird & Co.

Doug Thomas – JET Investment Research

Presentation

Operator

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Harman fiscal 2012 fourth quarter earnings call. (Operator Instructions)

I would now like the turn the conference over to Dinesh C. Paliwal, Chairman, President and CEO. Please proceed.

Dinesh Paliwal

Good morning ladies and gentlemen, and thank you for joining the Harman fourth quarter and full-year 2012 investor and analyst call. I’m joined in Stamford, Connecticut today by our Chief Financial Officer Herbert Parker and our Vice President of Investor Relations Robert Lardon.

We had an outstanding year, and I’m pleased to report solid progress with sales up 16% and operating income up 47% for the fiscal year, with a nice increase of 41% in earnings per share for the year.

I’m extremely proud to report that we continue to innovate and invest in technology. We added some 600 new patents and patents filings this past year, and our invention portfolio has grown to 4,400, almost doubled in the last five years. Our strong pipeline of new products in our [inaudible 2:27] branch and expansion of our channels globally position us for healthy secular growth.

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