Harman Kardon 2008 Annual Report Download - page 17

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Forward–Looking Statements
This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933
and 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). You should not place undue
reliance on these statements. Forward-looking statements include information concerning possible or assumed future
results of operations, capital expenditures, the outcome of pending legal proceedings and claims, goals and
objectives for future operations, including descriptions of our business strategies and purchase commitments from
customers. These statements are typically identified by words such as “believe,” “anticipate,” “expect,” “plan,”
“intend,” “estimate” and similar expressions. We base these statements on particular assumptions that we have made
in light of our industry experience, as well as our perception of historical trends, current conditions, expected future
developments and other factors that we believe are appropriate under the circumstances. As you read and consider
the information in this report, you should understand that these statements are not guarantees of performance or
results. They involve risks, uncertainties and assumptions. In light of these risks and uncertainties, we cannot assure
you that the results and events contemplated by the forward-looking statements contained in, or incorporated by
reference into, this report will in fact transpire.
You should carefully consider the risks described below and the other information in this report. Our operating
results may fluctuate significantly and may not meet our expectations or those of securities analysts or investors.
The price of our stock would likely decline if this occurs. Factors that may cause fluctuations in our operating
results include, but are not limited to, the following:
• our ability to successfully implement our strategic initiatives and to achieve the intended benefits of those
initiatives;
• automobile industry sales and production rates and the willingness of automobile purchasers to pay for the
option of a premium audio system and/or a multi-function infotainment system;
• changes in consumer confidence and spending;
• changes in interest rates and the availability of financing affecting consumer spending;
• fluctuations in currency exchange rates and other risks inherent in international trade and business
transactions;
• warranty obligations for defects in our products;
• our ability to satisfy contract performance criteria, including our ability to meet technical specifications and
due dates on our new automotive platforms;
• our ability to design, engineer and manufacture our products profitably under our long-term supply
arrangements with automakers;
• the loss of one or more significant customers, including our automotive manufacturer customers, or the loss
of a significant platform with an automotive customer;
• competition in the automotive, consumer or professional markets in which we operate, including pricing
pressure in the market for personal navigation devices (“PNDs”);
• our ability to achieve cost reductions and other benefits in connection with our restructuring program of our
manufacturing, engineering and administrative organizations;
• model-year changeovers in the automotive industry;
• our ability to enforce or defend our ownership and use of intellectual property;
• our ability to maintain a competitive technological advantage within the systems, services and products we
provide into the market place;
• our ability to effectively integrate acquisitions made by our Company or manage restructuring and cost
migration initiatives;