Harman Plans Memorial Products
Following the death of company founder Dr. Sidney Harman earlier this month, Harman International is planning both a scholarship and a line of special products in his memory.
At the top of Harman's earnings call Tuesday, CEO Dinesh Paliwal announced the establishment of the Sidney Harman Vision Scholarship, as well as "a number of limited edition products to commemorate his legacy," according to a transcript.
Net income for the company more than doubled to $36.6 million, from $18.2 million last year. Net sales also rose 13 percent.