2008 Annual Report - Harman

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�� Harman’s partnerships with other premium consumer brands such as Trek ® Bicycle, Apple ® and Nokia ® provide the forum for building new lifestyle excitement. � ��
The Harman Consumer Division caters to enthusiasts of every age and lifestyle, with a diverse range of products for around the home and on the go. From state- of-the-art surround sound systems to home cinema and whole-house audio, Harman is dedicated to raising lifestyle entertainment to ever-higher levels of technical sophistication and ease of use. Many of today’s affluent Baby Boomers acquired their first premium Harman/Kardon ® audio system nearly half a century ago. Today, their children and grandchildren are among the cadre of loyal fans for Harman products such as headphones, iPod and iPhone docking stations, and audio systems for computer and gaming applications. Typical of this trend is the Go + Play iPod speaker system, named one of the Top Ten summer hits for 2008 by online reviewer Amazing Tech Products. Our JBL LS80 series was named Speaker of the Year by the European Imaging and Sound Association. Harman products are also among the top sellers for online merchants such as Amazon and eBay. Traditional retailers include such giants as Best Buy in the Americas and Europe’s Media Markt. A dedicated retail concept store, the Harman Entertainment Lounge, opened during 2008 in London’s prestigious Royal Exchange, in cooperation with the company’s U.K. distributor. To help raise awareness of Harman as a leading provider of lifestyle products, the company has formed strategic relationships with other leading names such as Trek Bicycles, Apple, Nokia, Motorola, and innovative performers Blue Man Group. �� Drawing upon decades of loyalty by audio professionals, AKG ® consumer headphones offer users a rich concert hall experience from portable music players or premium home stereo systems. The new Control NOW speaker series from JBL boasts a unique quarter-round configuration that supports single or multiple units in a variety of wall, ceiling or corner installations. The legendary Harman/Kardon name is synonymous with premium quality for such diverse products as stereo receivers, mp3 or multimedia accessories, and modular speakers for computer and gaming applications. ��
Page 1 and 2: ��
Page 3 and 4: Financial HigHligHts Five-Year Summ
Page 5 and 6: From tHe CHaIrman and CHIeF exeCutI
Page 7 and 8: premium brands in this large, fast-
Page 9: Harman’s Automotive Division has
Page 13 and 14: Harman Professional Division system
Page 15 and 16: UNITED STATES SECURITIES AND EXCHAN
Page 17 and 18: Forward-Looking Statements This rep
Page 19 and 20: Part I Item 1. Business We believe
Page 21 and 22: and Lexicon brand names. As a resul
Page 23 and 24: Manufacturing We believe that our m
Page 25 and 26: Competition The audio industry is f
Page 27 and 28: website, www.sec.gov, that contains
Page 29 and 30: Obligations to correct product defe
Page 31 and 32: Covenants in our existing debt agre
Page 33 and 34: Item 2. Properties Our corporate he
Page 35 and 36: On March 24, 2008, the Court ordere
Page 37 and 38: Item 4. Submission of Matters to a
Page 39 and 40: The following table provides inform
Page 41 and 42: Overview We design, manufacture and
Page 43 and 44: Allowance for Doubtful Accounts Our
Page 45 and 46: Termination Benefits. For one-time
Page 47 and 48: In fiscal 2007, Professional net sa
Page 49 and 50: Below is a summary of our SG&A expe
Page 51 and 52: We present below a summary of our o
Page 53 and 54: Financing Activities Net cash flows
Page 55 and 56: Company also closed its Consumer ma
Page 57 and 58: Item 8. Consolidated Financial Stat
Page 59 and 60: Report of Independent Registered Pu
Page 61 and 62:
Consolidated Statements of Operatio
Page 63 and 64:
Consolidated Statements of Sharehol
Page 65 and 66:
Allowance for Doubtful Accounts. We
Page 67 and 68:
elieve is more likely than not to b
Page 69 and 70:
Fair Value Measurements for Purpose
Page 71 and 72:
Note 3 - Property, Plant and Equipm
Page 73 and 74:
Note 7 - Convertible Senior Notes O
Page 75 and 76:
The carrying value and fair value o
Page 77 and 78:
During the fourth quarter of fiscal
Page 79 and 80:
A grant of restricted stock units i
Page 81 and 82:
Modification of Certain Stock Optio
Page 83 and 84:
Note 14 - Restructuring Program We
Page 85 and 86:
Summary Plan Results The following
Page 87 and 88:
We rely on historical long-term rat
Page 89 and 90:
The following table reports net sal
Page 91 and 92:
District Court for the District of
Page 93 and 94:
We intend vigorously to continue de
Page 95 and 96:
Note 20 - Investment in Joint Ventu
Page 97 and 98:
Item 9B. Other Information None. Pa
Page 99 and 100:
4.3 Certificate of Designation of S
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effective December 16, 2003. (filed
Page 103 and 104:
SIGNATURES Pursuant to the requirem
Page 105 and 106:
Schedule II Classification Year end
Page 107 and 108:
Corporate Officers Dinesh C. Paliwa
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2008 Annual Report - Harman

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