New Clients Help Harman Boost Earnings by 75%

Harman International Industries Inc., a Northridge-based maker of stereo speakers and other audio equipment, reported a 75% increase in earnings in the company’s second fiscal quarter that ended Dec. 31.

Harman reported an $11.9-million profit in the second quarter, compared with earnings of $6.82 million in the same three-month period a year earlier. Sales increased to $289 million, up 30% from $223 million a year earlier.

For its six-month period, the company reported net income of $16.1 million on sales of $517 million, compared with a $7.86-million profit on $386 million in revenue a year earlier.

The company attributed its improved results partly to strong sales of car stereo equipment to automobile manufacturers. Sidney Harman, chief executive of the company, said the company has gained a number of new clients recently, including Saab, Jaguar and Range Rover. Harman systems are also offered in Chrysler, Mitsubishi and Ford vehicles.