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Shares of Harman, which supplies to global carmakers including
Fiat Chrysler Automobiles NV <FCAU.N> and BMW, rose 2 percent to
$81.25 in premarket trading on Thursday.
Revenue from Harman's connected car business, its biggest and
that includes navigation and safety systems, rose 2.1 percent to
$737 million in the second quarter, from a year earlier.
Revenue from the lifestyle division rose 20.4 percent to $625
million, helped by new orders from companies such as Audi, BMW,
and Volvo.
The lifestyle division makes audio and video products for homes
and cars under the JBL and Harman Kardon brands.
Net income attributable to Harman fell to $113 million, or $1.55
per share, in the quarter ended Dec. 31, from $116 million,
$1.65 per share, a year earlier.
Excluding items, the company earned $1.84 per share, above the
average analyst estimate of $1.80, according to Thomson Reuters
I/B/E/S.
Net sales rose to $1.77 billion from $1.58 billion, missing
estimates of $1.80 billion.
(Reporting by Kshitiz Goliya in Bengaluru; Editing by Anil
D'Silva and Maju Samuel)
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