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	<title>Stock Blog Hub &#187; Harman International Industrie</title>
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		<title>(HAR) Harman&#8217;s Profit Plummets &#8211; net sales decreased 30% year-over-year</title>
		<link>http://www.stockbloghub.com/2009/08/20/har-harmans-profit-plummets-net-sales-decreased-30-year-over-year/12985</link>
		<comments>http://www.stockbloghub.com/2009/08/20/har-harmans-profit-plummets-net-sales-decreased-30-year-over-year/12985#comments</comments>
		<pubDate>Fri, 21 Aug 2009 03:51:16 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Consumer Goods]]></category>
		<category><![CDATA[Electronic Equipment]]></category>
		<category><![CDATA[HAR]]></category>
		<category><![CDATA[Harman International Industrie]]></category>

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		<description><![CDATA[Harman International Industries, Inc. (HAR), a leading global manufacturer of audio and infotainment products, has reported dismal fourth quarter and fiscal 2009 results, with a decrease in year-over-year sales and net income. Harman has reported net sales of $668 million during the fourth quarter compared to $1.1 billion in the year-earlier quarter – a decline of 37%. Excluding the effect of foreign currency, net sales decreased 32% year-over-year. Harman reported a loss of $1.05 per share during the quarter, much lower than the Zacks Consensus Estimate of -60 cents and a net income of 54 cents in the year-ago quarter. For the fiscal year 2009, net sales decreased 30% year-over-year to $2.9 billion. Excluding the foreign currency translation, net sales declined 26%. The company reported a loss of $7.19 per ]]></description>
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