2008 Annual Report - Harman

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�� The new Porsche Cayenne is among the countless vehicles delighting drivers with its premium Harman infotainment systems. � ��
Harman’s Automotive Division has long set the standard for branded audio, navigation and infotainment systems in the luxury and mid-range segments. An estimated 20 million vehicles across the Americas, Europe and Asia are equipped with our systems from our Becker, Harman/Kardon, JBL, Infinity, Lexicon, Mark Levinson and other brands. Harman systems delight drivers and enthusiasts of the BMW 7 Series, Mercedes S-Class, Rolls-Royce Phantom, Toyota Avalon and more. Our Mark Levinson brand is installed in the full range of Lexus vehicles. We formed an exclusive global alliance this year with British audio innovators Bowers & Wilkins, adding another premium name to the Harman brand portfolio. A new long-term contract with global database provider NAVTEQ will help ensure Harman’s continued leadership in digital mapping and location-based technologies. Key automotive awards or launches during 2008 include the Audi Q5 Series, Porsche 911 Carrera, Hyundai Genesis, and Korea’s most expensive domestic sedan, the Ssangyong Chairman – priced at more than $100,000. Italy’s Ferrari S.p.A. honored Harman with its 2008 Technology Award, presented to partners who demonstrate unusual standards of excellence, innovation and product development. Harman also reported during 2008 that it was selected by Daimler AG to provide branded audio systems for the next-generation Mercedes M-Class vehicle, expected to launch in 2011. The se- lection continues a close relationship as a supplier of branded systems to Mercedes since 2002. �� A Harman scientist models the acoustic properties of a new vehicle interior for optimum placement of speakers to ensure perfect bass performance for driver and passengers. The latest-generation Mercedes S-Class features branded audio systems from Harman/Kardon, leveraging a close partnership that spans over a dozen model platforms from the German automaker. Advanced navigation systems from Harman provide turn-by-turn route instructions, photorealistic landmarks for driver reference, and branded points of interest such as restaurants, hotels and fuel facilities. ��
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Page 3 and 4: Financial HigHligHts Five-Year Summ
Page 5 and 6: From tHe CHaIrman and CHIeF exeCutI
Page 7: premium brands in this large, fast-
Page 11 and 12: The Harman Consumer Division caters
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
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Modification of Certain Stock Optio
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Note 14 - Restructuring Program We
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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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