Knowles Reports Q4 & Full Year 2019 Financial Results and Provides Outlook for Q1 2020
Knowles Corporation (KN)
Last knowles corporation earnings: 2/4 04:05 pm
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Source: Business Wire
Q4 Revenues Up 5 Percent Y/YRevenues from Non-Mobile More Than 70 Percent of Total Sales in 2019Record Cash From Operations of $124 million in 2019 ITASCA, Ill.--(BUSINESS WIRE)--Knowles Corporation (NYSE: KN), a market leader and global provider of advanced micro-acoustic, audio processing, and precision device solutions, today announced results for the quarter and year ended December 31, 2019.“In the fourth quarter, we reported revenues of $234 million, within our guidance range and up 5 percent from the year ago period as strong sales into the Ear and IoT markets were offset by continued soft trends in Mobile,” said Jeffrey Niew, president and CEO of Knowles. “In Precision Devices, fourth quarter sales were up double digits year-over-year, however, gross margins for this segment were below expectations resulting in EPS that was below our guidance range. We anticipate total company gross margin improvement in 2020.”“We ended 2019 with total company revenue up 3 percent, despite
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