WASHINGTON (dpa-AFX) - Harman International Industries (HAR) posted higher second-quarter net income of $59 million or $0.82 per share compared with last year's $53 million or $0.74 per share, with non-GAAP net income rising to $60 million or $0.83 per share from $56 million or $0.79 per share a year ago. On average, 4 analysts polled by Thomson Reuters expected earnings per share of $0.73 for the quarter. Analysts' estimates typically exclude one-time items.
The company said all three of its divisions reported higher sales and operating margins during this quarter.
Net sales for the second quarter were $1.13 billion, up 18 percent from $956 million in the previous year, while 3 analysts estimated revenues of $1.05 billion for the quarter.
Separately, the company announced a cash dividend on February 7, 2012 of $.075 cents per share for the second quarter ended December 31, 2011, payable on March 5, 2012, to each stockholder of record as of the close of business on February 17, 2012.
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