UPDATE 2-Harman to spend on new factories, profit forecast lags Street

jueves 7 de agosto de 2014 11:52 GYT
 

* Sees full-year adj earnings/shr $5.25 vs est $5.46

* 4th-qtr adj earnings/shr $1.25 vs est $1.21

* Revenue up 22 pct

* Shares fall as much as 6 pct (Adds CEO comments, details from conference call; updates shares)

By Soham Chatterjee

Aug 7 (Reuters) - Harman International Industries Inc , maker of JBL and Harman Kardon audio systems, forecast full-year profit below market estimates as it spends more to boost production in lower-cost countries.

The company's shares fell as much as 6 percent in early trading on Thursday.

Harman International, which counts Volkswagen AG , BMW AG and Toyota Motor Corp among customers, said it would add four production lines in the year ending June 2015.

"We are going to be investing in a new factory in Brazil (and) India, and we will (be) expanding our production in Hungary and China," Chief Executive Dinesh Paliwal told Reuters.   Continuación...