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4-Traders Homepage  >  Equities  >  Nyse  >  Harman International Industries Inc    HAR

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Harman International Industries Inc./DE/ : Country Music Superstar Tim McGraw and HARMAN Launch New Line of JBL® Artist Series Headphones

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05/10/2012 | 02:10pm CET

Tim McGraw also named new "Hear the truth" artist, joining Paul McCartney and Maroon 5 to support the JBL promise that consumers hear music the way artists intended

For more information: JBL.com

HARMAN International Industries announced today that two styles of JBL® headphones designed in partnership with country music icon Tim McGraw will be available in May from the nation's leading retailers. The JBL Artist Series headphones by McGraw are available in on-ear and in-ear styles and deliver an impressive acoustic performance at price points music lovers will find attractive.

 (Photo: Business Wire)

(Photo: Business Wire)

McGraw is also the next "Hear the truth" artist for JBL, the first in a distinguished line-up of musicians to have a branded line of JBL audio gear that represents the campaign's commitment to delivering quality products that reproduce music the way artists want it to be heard.

"Music fans today should not compromise when it comes to sound," said Dinesh C. Paliwal, chairman, president and CEO of HARMAN. "Our partnership with Tim McGraw shows that musicians want to deliver audio products that represent and emphasize the acoustic quality they work hard to achieve. We think Tim McGraw's fans - and any music lover - will appreciate these custom-designed headphones for a performance that faithfully delivers music the way the artist intended."

McGraw, who has 32 No. 1 hits to his credit, said he wants his fans "to hear and experience music the way I do. I've teamed up with JBL to create Artist Series headphones that have been tuned to do just that. Truth is in the details, and I'm proud to bring the truth with my own series of JBL headphones."

The McGraw "Hear the truth" campaign will include national TV, print, online and tour components to support the launch of his JBL Artist Series headphones. Additionally, JBL is an official sponsor of McGraw's upcoming tour supporting his latest No. 1 album, Emotional Traffic.

HARMAN launched "Hear the truth" for JBL in September 2011 with a multimedia campaign featuring Maroon 5 and international superstar A.R. Rahman. In February, Paul McCartney was introduced as a "Hear the truth" artist during the GRAMMY Awards® broadcast with a commercial featuring his latest single, "My Valentine." Other top artists work closely with HARMAN as well: Quincy Jones and HARMAN offer a signature line of premium AKG® headphones, while Jennifer Lopez is the spokesperson for the Harman Kardon® "beautiful/sound" campaign.

The Tim McGraw JBL Artist Series headphones are offered in two styles:

The on-ear headphones, which rest on the listener's ears, include a comfort headband for lengthy listening periods, such as a cross-country flight. They have a wide dynamic range and excellent bass response to deliver robust, satisfying sound. The headphones fold smartly, ideal for carrying in a backpack or briefcase. The Tim McGraw on-ear headphones are available in black or white and have a suggested retail price of $129.95.

The in-ear headphones have a closed-back design to reduce outside noise so listeners hear music clearly at lower volume levels, which is healthier for the ears. The in-ear headphones ship with three styles of swappable silicon sleeves so users can adjust for a comfortable and snug fit for long listening periods. They have a wide dynamic range and excellent bass response to deliver a rewarding experience. The in-ear headphones include a Tim McGraw-branded carrying pouch, are available in black or white, and have a suggested retail price of $49.95.

The JBL Tim McGraw Artist Series headphones will be available at select Walmart stores, Walmart.com, Guitar Center and JBL.com.

About Tim McGraw

Tim McGraw has sold over 40 million units and dominated the charts with 32 No. 1 singles. He has won three GRAMMY Awards, 14 Academy of Country Music Awards, 11 Country Music Association Awards, 10 American Music Awards, three People's Choice Awards and numerous other honors. With 7.8 million spins on radio, McGraw was deemed "Artist of the Decade" (2000 - 2010) by Nielsen Broadcast Data Systems. McGraw's 11th studio album, Emotional Traffic (Jan. 24, 2012), debuted at No. 1 on the Billboard Country chart, making it his 13th career No. 1 debut. This June, McGraw will kick off what is anticipated to be the biggest stadium tour in country music history with old friend Kenny Chesney. The Brothers of the Sun Tour will reunite McGraw and Chesney for the first time in 10 years. The 20-city tour kicks off on June 2 in Tampa and will hit the nation's biggest stadiums through August. McGraw is also an accomplished actor, having starred in the Oscar®-nominated blockbuster The Blind Side and the critically acclaimed Friday Night Lights.

About HARMAN

HARMAN (www.harman.com) designs, manufactures and markets a wide range of audio and infotainment solutions for the automotive, consumer and professional markets -- supported by 15 leading brands, including AKG®, Harman Kardon®, Infinity®, JBL®, Lexicon® and Mark Levinson®. The Company is admired by audiophiles across multiple generations and supports leading professional entertainers and the venues where they perform. More than 25 million automobiles on the road today are equipped with HARMAN audio and infotainment systems. HARMAN has a workforce of about 13,000 people across the Americas, Europe and Asia, and reported net sales of $4.3 billion for the twelve months ended March 31, 2012. The Company's shares are traded on the New York Stock Exchange under the symbol NYSE:HAR.

© 2012 HARMAN International Industries, Incorporated. All rights reserved. Harman Kardon, Infinity, JBL, Lexicon and Mark Levinson are trademarks of HARMAN International Industries, Incorporated, registered in the United States and/or other countries. AKG is a trademark of AKG Acoustics GmbH, registered in the United States and/or other countries. GRAMMY Awards is a registered trademark of The Recording Academy. Oscar is a registered trademark of the Academy of Motion Picture Arts and Sciences. Features, specifications and appearance are subject to change without notice.

HAR-C

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50272561&lang=en

For additional HARMAN information:
HARMAN International
Christopher M. Dragon, 203-328-4203
chris.dragon@HARMAN.com
or
Burson-Marsteller
Alexandria Denti, 212-614-4167
Mobile: 646-301-2197
Alexandria.Denti@bm.com
or
For additional Tim McGraw information:
The GreenRoom
Mary Hilliard Harrington, 615-242-7444
Maryhilliard@thegreenroompr.com


© Business Wire 2012
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Financials ($)
Sales 2017 7 413 M
EBIT 2017 769 M
Net income 2017 435 M
Debt 2017 546 M
Yield 2017 1,30%
P/E ratio 2017 19,12
P/E ratio 2018 15,38
EV / Sales 2017 1,12x
EV / Sales 2018 1,05x
Capitalization 7 771 M
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Mean consensus HOLD
Number of Analysts 12
Average target price 106 $
Spread / Average Target -4,6%
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NameTitle
Dinesh C. Paliwal Chairman, President & Chief Executive Officer
David J. Slump Executive Vice President-Operations
Sandra E. Rowland Chief Financial Officer & Executive Vice President
Marty O'Brien Chief Information Officer & Vice President
Henry Tirri Chief Technology Officer & Executive VP
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