A simpler, more focused Harman International Industries
The audio and entertainment specialist sold the QNX operating system to Research In Motion
Harman just reported a stellar second quarter, sending the stock price skyward by more than 13%. Sales grew just 3% year-over-year to $956 million, but tight cost controls and the aforementioned simplification of Harman's operations led to nearly four times the GAAP earnings, at $0.74 per share.
The company is whipping up an R&D and manufacturing site in northern China in order to fuel pan-Asian expansion. That's just one of many projects aimed at putting Harman infotainment systems in more cars over the next few years.
At the Consumer Electronics Show in January, Harman unveiled a 4G data-streaming solution for in-car radio and social media presentation in a partnership with Sierra Wireless
That push could make Harman a significant threat to Sirius XM
Add Harman to your Foolish watchlist and follow the company's travails in China, in-car entertainment, and beyond.
Fool contributor Anders Bylund holds no position in any of the companies discussed here. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. You can check out Anders' holdings and a concise bio if you like, and The Motley Fool is investors writing for investors.