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HARMAN INTERNATIONAL INDUSTRIES, INCORPORATED, ANNOUNCES THIRD QUARTER AND NINE MONTH RESULTS FOR FISCAL 1993

 WASHINGTON, April 29 /PRNewswire/ -- Harman International Industries, Incorporated (NYSE: HAR), announced results for the third quarter and the nine months ended March 31, 1993.
 In the third quarter, sales were $167.6 million, up $15.6 million (10.3 percent) from the same period a year ago. Pretax earnings were $6.7 million, up $3.8 million (132.2 percent) from the previous year. Net income was $4.0 million, compared with net income of $1.7 million reported in the prior year. Earnings per share of 37 cents compared with 19 cents in the previous year.
 For the nine month period, sales were $489.6 million, up $38.5 million (8.5 percent) from the same period a year ago. Pretax earnings were $10.0 million, up $6.9 million (220.7 percent) from the prior year. Net income was $6.0 million, compared with net income of $1.8 million reported in the previous year. Earnings per share were 55 cents per share, compared with 21 cents in the previous year.
 Commenting on the results, Dr. Sidney Harman, chairman and chief executive officer, said:
 "We are pleased with the results of the third quarter. The Automotive OEM Group had another very good quarter, reporting significant increases in sales and earnings. This is a result of the continued success of the Chrysler LH cars in which our Infinity ISI systems are installed and the success of the Ford Mark VIII vehicles in which our Ford/JBL systems are installed.
 "JBL, Infinity and Pyle also continued to report strong sales growth around the world despite weak economic conditions in Europe and Japan. Harman Deutschland reported strong results despite difficult economic conditions in Germany. Harman Japan experienced a decline in sales and earnings due to the recession in Japan.
 "We are encouraged by these results and look forward to a robust fourth quarter."
 Harman International Industries, Incorporated, is a leader in the design, manufacture and marketing of high-quality, high-fidelity audio products targeted primarily at the consumer, professional and automotive markets. The company's stock is traded on the New York Stock Exchange under the symbol: HAR.
 HARMAN INTERNATIONAL INDUSTRIES, INCORPORATED
 THIRD QUARTER AND NINE MONTH RESULTS -- FISCAL 1993
 (In Thousands Except Earnings Per Share)
 Income Statement
 (Unaudited)
 PERIOD ENDED
 March 31, 1993 March 31, 1992
 THIRD QUARTER
 Net Sales $167,581 $151,993
 Earnings Before Taxes 6,735 2,901
 Net Income 4,001 1,711
 Earnings Per Share of
 Common Stock 0.37 0.19
 Weighted Average Number of
 Common Shares Outstanding 10,847 8,776
 NINE MONTHS
 Net Sales $489,640 $451,159
 Earnings Before Taxes 9,973 3,110
 Net Income 5,972 1,845
 Earnings Per Share of
 Common Stock 0.55 0.21
 Weighted Average Number of
 Common Shares Outstanding 10,815 8,775
 -0- 4/29/93
 /CONTACT: Bernie Girod of Harman International Industries, 202-393-1101/
 (HAR)


CO: Harman International Industries, Incorporated ST: District of Columbia IN: CPR SU: ERN

TW-DC -- DC008 -- 2548 04/29/93 10:24 EDT
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Date:Apr 29, 1993
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