FORM 10-K - Harman

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Sachin Lawande joined our Company in 2001, and has served as our Chief Technology Officer since January 2009. Prior to holding this position, Mr. Lawande served as <strong>Harman</strong>’s Chief Innovation Officer, from 2008 to January 2009, where he was responsible for guiding software strategy and key development partnerships and was instrumental in launching an offshore development center in India as part of <strong>Harman</strong>’s strategy for optimizing its global footprint. From 2001 through 2006 he served in various positions with QNX Software Systems, most recently as Vice President, Engineering Services. David Slump joined our Company in February 2009 as President, Consumer Audio Division and Vice President, Corporate Development. Prior to joining our Company, from 2008 to January 2009, Mr. Slump served as Senior Vice President for Landis + Gyr Holdings, a leader in the energy management industry, where he directed the company’s global brand strategy and evaluated portfolio and architecture investments. From 2007 until 2008, he served as President and Chief Executive Officer of Cellnet + Hunt Group. From 2003 to 2007, Mr. Slump held a variety of positions with General Electric, most recently as General Manager, Global Marketing. John Stacey joined our Company in February 2008 as Vice President and Chief Human Resources Officer. Prior to joining our Company, he was Vice President, People for InBev North America, Inbev Central and Eastern Europe from 2005 through January 2008. He also served as Vice President, Human Resources for Labatt USA from 2000 to 2005. Todd A. Suko joined our Company in October 2008 as Vice President, General Counsel and Secretary. Prior to joining our Company Mr. Suko served as Vice President, General Counsel and Secretary for UAP Holding Corp. and United Agri Products from 2001 to September 2008. Mr. Suko is a member of the bar in Washington, DC and Virginia; and is a Commander in the United States Navy Reserve. 21
Part II Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Our common stock is listed on the New York Stock Exchange and is reported on the New York Stock Exchange Composite Tape under the symbol HAR. As of August 18, 2009, there were approximately 127 record holders of our common stock. The table below sets forth the reported high and low sales prices for our common stock, as reported on the New York Stock Exchange, for each quarterly period for fiscal years ended June 30, 2009 and 2008. Years Ended June 30, 2009 2008 Market Price High Low High Low First quarter ended September 30 ................................. $44.69 $29.92 $118.15 $75.52 Second quarter ended December 31 ............................... 34.00 9.87 89.64 69.48 Third quarter ended March 31 .................................... 21.19 9.17 73.75 35.74 Fourth quarter ended June 30 .................................... 23.38 13.03 46.90 37.60 We paid cash dividends during fiscal year 2009 of $.025 per share, with a dividend of $.0125 paid in the first and second quarters. We indefinitely suspended payment of the cash dividend in the third quarter of fiscal year 2009. We paid cash dividends during fiscal year 2008 of $.05 per share, with a dividend of $.0125 per share paid in each quarter. The following table provides information about shares acquired from employees during the fourth quarter of fiscal year 2009 in connection with the surrender of shares to pay option exercise prices. Period Total Number of Shares Acquired During Period Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs April 1 – April 30 ..................... — — — — May1–May31...................... — — — — June 1 – June 30 ...................... — — — — Total ............................... — — — — Since inception of our share repurchase program in June 1998 and through September 30, 2007, we had acquired and placed in treasury a total of 18,198,082 shares of our common stock at a cost of $639.6 million. Our program was suspended upon the announcement in April 2007 of our proposed merger with a company formed by investment funds affiliated with Kohlberg Kravis Roberts & Co. L.P. (“KKR”), GS Capital Partners VI Fund, L.P. and its related funds, which are sponsored by Goldman, Sachs & Co. (“GSCP”). On October 22, 2007, we announced the termination of our agreement with KKR and GSCP and companies formed by investment funds affiliated with KKR and GSCP. In connection with the termination agreement, we entered into a note purchase agreement under which we sold $400 million aggregate principal amount of our 1.25 percent Convertible Notes due 2012 (the “Notes”) to affiliates of KKR, GSCP, Citibank, N.A. and HSBC USA, Inc. On October 30, 2007, we used the proceeds from the issuance and sale of the Notes to repurchase 4,775,549 shares of our Company’s common stock at a cost of $400.3 million. We received an additional 2,449,230 shares upon settlement of the October 2007 repurchase. The total number of shares purchased and retired as a result of the October 2007 repurchase was 7,224,779. The total number of shares repurchased through June 30, 2009 was 25,599,817. For a description of limitations on repurchases of shares and on the payment of dividends, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Financial Condition” located in Item 7 of Part II of this report. 22
Page 2 and 3: Touching lives with premium audio a
Page 4 and 5: Financial Highlights FIVE-YEAR SUMM
Page 6 and 7: To Our Shareholders FROM THE CHAIRM
Page 8: Harman’s Professional Division la
Page 12: (opposite) Harman’s partnership w
Page 15 and 16: (above left) Harman’s new GreenEd
Page 17 and 18: [THIS PAGE INTENTIONALLY LEFT BLANK
Page 19 and 20: Forward-Looking Statements This rep
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Page 23 and 24: electronic devices. Our branded aud
Page 25 and 26: ole in developing the emerging Ethe
Page 27 and 28: We also produce professional amplif
Page 29 and 30: For the fiscal year ended June 30,
Page 31 and 32: We believe that our facilities are
Page 33 and 34: suffer. In addition, our competitor
Page 35 and 36: Covenants in our existing debt agre
Page 37 and 38: usiness. From time to time, third p
Page 39 and 40: On November 30, 2007, the Boca Rato
Page 41: Item 4. Submission of Matters to a
Page 45 and 46: Item 7. Management’s Discussion a
Page 47 and 48: assets and liabilities. Actual resu
Page 49 and 50: tax assets to an amount we believe
Page 51 and 52: Consumer net sales increased 7 perc
Page 53 and 54: HiQnet products as we achieved econ
Page 55 and 56: Other SG&A expenses increased $16.9
Page 57 and 58: our cash and cash equivalents and s
Page 59 and 60: Borrowings Under Revolving Credit F
Page 61 and 62: The Notes are convertible at the op
Page 63 and 64: Interest Rate Sensitivity/Risk At J
Page 65 and 66: Item 8. Consolidated Financial Stat
Page 67 and 68: Report of Independent Registered Pu
Page 69 and 70: CONSOLIDATED STATEMENTS OF OPERATIO
Page 71 and 72: HARMAN INTERNATIONAL INDUSTRIES, IN
Page 73 and 74: Harman International Industries, In
Page 83 and 84: Note 5 - Goodwill Harman Internatio
Page 93 and 94:
Harman International Industries, In
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Excess Tax Benefits Harman Internat
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Item 9. Changes in and Disagreement
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Part IV Item 15. Exhibits and Finan
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Exhibit No. Exhibit Description 10.
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Exhibit No. Exhibit Description 10.
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Schedule II Classification HARMAN I
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[THIS PAGE INTENTIONALLY LEFT BLANK
Page 125:
400 Atlantic Street, Suite 1500 Sta
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FORM 10-K - Harman

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