HAR Harman International Industries, Incorporated

Bang & Olufsen said Wednesday that the outcome of talks with potential Chinese suitor Sparkle Roll is uncertain, but raised its full-year revenue guidance after its lower-end B&O Play brand did better than expected in its fiscal third quarter.

The Danish company last month confirmed that it had been approached by a Hong Kong investor who heads a luxury-goods distributor over a potential takeover of the company, but said today that "uncertainty remains as to the outcome of the dialogue."

In conjunction with today's fiscal third-quarter earnings, Bang & Olufsen lifted its full-year revenue guidance, expecting full-year revenue to grow between 12% and 15%, up from a previous estimate of 8%-12%.

The company reported a third-quarter net loss of 1.2 million Danish kroner ($183,000), from a profit of 17.3 million kroner last year, as revenue rose 8% to 702.6 million kroner.

Separately, the company said it has sold its ICEpower audio parts unit as it continues to refocus its business. ICEpower, which provides audio parts to manufacturers of professional and consumer audio products, has been sold in a management buyout for an enterprise value of 32 million kroner ($4.9 billion), it said.

Bang & Olufsen is in the midst of a makeover, trying to turn around its traditional business of selling upmarket audio and television equipment while expanding in lower-end consumer goods with its B&O Play brand. The company said last month that it would stop making flat screens, sourcing them from South Korea's LG Electronics Inc., instead, and last year s old its automotive sound-system business to Harman International Industries Inc.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

April 06, 2016 06:45 ET (10:45 GMT)

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