Knowles: 4Q Earnings Snapshot
ITASCA, Ill. (AP) _ Knowles Corp. (KN) on Tuesday reported fourth-quarter net income of $20.5 million, after reporting a loss in the same period a year earlier.
The Itasca, Illinois-based company said it had net income of 21 cents per share. Earnings, adjusted for one-time gains and costs, were 35 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The maker acoustic components such as microphones posted revenue of $233.9 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $237.6 million.
For the year, the company reported profit of $49.1 million, or 53 cents per share. Revenue was reported as $854.8 million.
For the current quarter ending in April, Knowles expects its per-share earnings to range from 8 cents to 16 cents.
The company said it expects revenue in the range of $160 million to $190 million for the fiscal first quarter.
Knowles shares have dropped almost 4% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $20.35, a climb of 31% in the last 12 months.