Knowles: Q1 Earnings Snapshot
ITASCA, Ill. (AP) _ Knowles Corp. (KN) on Thursday reported first-quarter net income of $12.5 million, after reporting a loss in the same period a year earlier.
The Itasca, Illinois-based company said it had profit of 13 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 29 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The maker acoustic components such as microphones posted revenue of $201 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $200 million.
For the current quarter ending in July, Knowles expects its per-share earnings to range from 23 cents to 29 cents.
The company said it expects revenue in the range of $185 million to $205 million for the fiscal second quarter.
Knowles shares have risen 14% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $20.99, a climb of 46% in the last 12 months.