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2014

Harman Confirms Impact of Chrysler Strike on Fourth Quarter Earnings



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    WASHINGTON, May 19 /PRNewswire/ -- Harman International Industries,
 Incorporated (NYSE:   HAR), today reviewed the fourth quarter impact of the
 month long strike at the Chrysler Corporation (NYSE:   C) Mound Road engine
 plant in Detroit.
     Chrysler has stated that:  "Some 95,000 units were lost during the strike
 as the lack of engines and other components produced by the Mound Road
 facility shut down a number of Chrysler assembly operations."
     Subject to penetration rates, a corresponding reduction in shipment for
 Harman's Infinity audio systems is estimated to reduce earnings $0.15 per
 share after tax.  The Company had hoped to see a step-up in releases in the
 fourth quarter to recover some of the lost production, but Chrysler advises
 that few, if any, of the lost units will be recovered.
     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 OEM markets.  The
 Company's stock is traded on the New York Stock Exchange under the symbol:
 HAR.
 
     Note:  Except for historical information contained herein, the matters
 discussed are forward-looking statements which involve risks and uncertainties
 that could cause actual results to differ materially from those suggested in
 the forward-looking statements, including but not limited to the effect of
 economic conditions, product demand, currency exchange rates, competitive
 products and other risks detailed in the Company's Securities and Exchange
 Commission filings.
 
 

SOURCE Harman International Industries, Incorporated

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