Harman sales increase as car audio system sales jump

Oct 31 reported Harman International Industries Inc (Reuters) - a rise in quarterly sales rose 17 percent as demand rose for its audio devices by luxury car manufacturers such as Ferrari, Daimler AG and Volkswagen Audi.

Sales rose to $1.17 billion in the first quarter, 30, ended Sept. from $998 million a year earlier.

Net profit fell from $55 million, or 79 cents per share on $46 million, or 66 cents per share in the previous year.

The reported quarter reported the company, known for brands like JBL and Harman Kardon, restructuring and one-time charges amounting to $24 million.