Earnings Briefs
By Jeff Malester -- TWICE, 8/22/2005
Harman International Sales Increase
Washington — Automotive had a solid year and consumer had an excellent year, said Harman International Industries in reporting the company’s fiscal fourth-quarter sales increased 10 percent to $808 million, from $732 million. Net income for the three months, ended June 30, rose to $70.2 million, a 32 percent climb over the $53 million earned in the same quarter a year ago. Consumer had an excellent year, propelled by Harman’s multimedia products, said the company in reporting 12-month sales of $3 billion, an increase of 12 percent over the $2.7 billion recorded the previous year. Net income for the 12 months reached $232.8 million, a 47 percent rise over the $157.9 million held down a year earlier.
Dolby Revenue Rises 5%
San Francisco — Higher licensing revenue attributable to the PC, broadcast and gaming markets pushed up fiscal third-quarter revenue 5 percent at Dolby Laboratories to $79.7 million, from $76.1 million in the year-ago period. Third-quarter net income reached $14.8 million, compared with $12 million in the same three months a year earlier. Net income in the third quarter, ended July 1, included charges of $3.2 million, compared with $2.3 million year-on-year. Pro forma net income in the third quarter of last year, excluding royalty obligations, hit $17.6 million. For the nine months, revenue climbed to $249 million, up from $220.2 million in the same three months last year. Net income was $35.5 million for the quarter, down from $36.6 million year-over-year. Pro forma net income, excluding royalty obligations, totaled $46.6 million for the nine months, compared with $53.8 million year-on-year. Dolby said it did note a slowdown in the growth of sales of traditional consumer DVD players, while the overall DVD market was still growing.
Ingram Micro Q2 Sales Up
Santa Ana, Calif. — Computer products distributor Ingram Micro pushed up North American sales by 4 percent the second quarter, ended July 2, hitting $2.9 billion, compared with a year-ago $2.8 billion. North American sales accounted for 43 percent of total company revenue. For the six months, North American sales climbed to $5.9 billion from a year-earlier $5.6 billion. Consolidated second-quarter sales at Ingram Micro rose 20 percent to $6.8 billion, from $5.7 billion in the same three months last year. Net income for the quarter reached $41.7 million, including charges, a 61 percent increase, compared with $25.9 million in the same quarter in 2004. Gross margin was 5.37 percent, a bit lower than the year-ago quarter. For the six months, consolidated sales reached $13.9 billion, up from $12 billion in the same period the prior year. Consolidated net income for the first half was $84.1 million, compared with $63.4 million year-on-year.
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