Knowles: 4Q Earnings Snapshot
Editors Note Adds full-year results.
ITASCA, Ill. (AP) _ Knowles Corp. (KN) on Thursday reported fourth-quarter profit of $79.6 million.
On a per-share basis, the Itasca, Illinois-based company said it had net income of 87 cents. Earnings, adjusted for one-time gains and costs, were 37 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The maker acoustic components such as microphones posted revenue of $223.8 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $224.9 million.
For the year, the company reported profit of $67. million, or 74 cents per share. Revenue was reported as $826.9 million.
Knowles shares have increased 18 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.68, a rise of slightly more than 9 percent in the last 12 months.
By The Associated Press, Copyright 2019