0001193125-11-076627.txt : 20110324 0001193125-11-076627.hdr.sgml : 20110324 20110324171741 ACCESSION NUMBER: 0001193125-11-076627 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20110324 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110324 DATE AS OF CHANGE: 20110324 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HARMAN INTERNATIONAL INDUSTRIES INC /DE/ CENTRAL INDEX KEY: 0000800459 STANDARD INDUSTRIAL CLASSIFICATION: HOUSEHOLD AUDIO & VIDEO EQUIPMENT [3651] IRS NUMBER: 112534306 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09764 FILM NUMBER: 11710210 BUSINESS ADDRESS: STREET 1: 400 ATLANTIC STREET STREET 2: SUITE 1500 CITY: STAMFORD STATE: CT ZIP: 06901 BUSINESS PHONE: 2033283500 MAIL ADDRESS: STREET 1: 400 ATLANTIC STREET STREET 2: SUITE 1500 CITY: STAMFORD STATE: CT ZIP: 06901 8-K 1 d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): March 24, 2011

 

 

HARMAN INTERNATIONAL INDUSTRIES, INCORPORATED

(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)

 

 

 

Delaware   001-09764   11-2534306

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

400 Atlantic Street, Suite 1500

Stamford, CT 06901

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (203) 328-3500

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 7.01 Regulation FD Disclosure

On March 24, 2011, Harman International Industries, Incorporated (the “Company”) issued a press release reporting that it has exceeded its goal of $400 million in permanent cost and productivity savings under the Company’s STEP Change program which will formally conclude in June 2011. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K.

This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

 

Item 9.01 Financial Statements and Exhibits

 

  (d) Exhibits

 

99.1    Press Release dated March 24, 2011


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

HARMAN INTERNATIONAL INDUSTRIES, INCORPORATED
By:  

/s/ Todd A. Suko

  Todd A. Suko
  Executive Vice President, General Counsel and Secretary

Date: March 24, 2011

EX-99.1 2 dex991.htm PRESS RELEASE Press Release

Exhibit 99.1

LOGO

March 24, 2011 –FOR IMMEDIATE RELEASE

Contact:

Darrin Shewchuk

Director, Corporate Communications

darrin.shewchuk@harman.com

203.328.3500

HARMAN Beats Target for $400 Million STEP Change Savings Program

STAMFORD, CT – HARMAN, the global audio and infotainment group (NYSE:HAR), said today that it has already exceeded its goal of $400 million in permanent cost and productivity savings under the Company’s STEP Change program which will formally conclude in June 2011. Launched in mid-2008 as a proactive measure ahead of the broader global economic downturn, the program targets far-reaching improvements in cost and capital efficiency and operational excellence across the Company’s global operations.

“I am very proud of the response from every level of the HARMAN organization in achieving these tremendous results,” said Dinesh C. Paliwal, the Company’s Chairman, President and CEO. “Beyond dramatic improvements in our cost structure and productivity, the STEP Change program has driven a new culture of continuous improvement across the HARMAN team. I am confident that we will see lasting and continued benefits from this milestone strategic initiative.”

The HARMAN STEP Change program is composed of nearly 250 bottom-up initiatives for optimizing the Company’s global footprint, reducing supply chain and logistics costs, and improving overall efficiency. A dedicated project team, supported by real-time tracking systems, has monitored each program step to ensure transparency and to alert owners to the status of key milestones. The program included closure or consolidation of 16 HARMAN facilities and the reduction of 2250 jobs in high-cost countries during the past three years. Complementing these, HARMAN has dramatically expanded its presence in the emerging markets of Brazil, Russia, India and China where the Company is targeting $1.5 billion in revenues by 2015.

“I am confident that STEP Change not only enabled HARMAN to endure the global economic downturn but allowed us to return to profitable growth faster than many peers,” continued Paliwal. “We are on track to creating significant new value with five consecutive quarters of improvement at top and bottom line, highlighted by an 82 percent improvement in year-on-year operating income for our most recent reporting period.”

HARMAN (www.harman.com) designs, manufactures and markets a wide range of audio and infotainment solutions for the automotive, consumer and professional markets – supported by 15 leading brands including AKG®, Harman Kardon®, Infinity®, JBL®, Lexicon® and Mark Levinson®. The Company is admired by audiophiles across multiple generations and supports leading professional entertainers and the venues where they perform. More than 20 million automobiles on the road today are equipped with HARMAN audio and infotainment systems. HARMAN has a workforce of about 11,800 people across the Americas, Europe and Asia, and reported sales of $3.5 billion for the twelve months ended December 31, 2010. The Company’s shares are traded on the New York Stock Exchange under the symbol NYSE:HAR.

HAR-C

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