ITASCA, Ill.--(BUSINESS WIRE)--Jan. 13, 2016--
Knowles Corporation (NYSE: KN), a market leader and global supplier of
advanced micro-acoustic solutions and specialty components, today
announced preliminary results for its fourth quarter of 2015.
Projections for the quarter were previously provided in its quarterly
earnings release on October 26, 2015.
Revenue for the fourth quarter is expected to be approximately $310
million, compared with the Company's previous projections for revenue to
be in the range of $290 million to $310 million. Non-GAAP gross margin
is expected to be between 32 percent and 34 percent, as compared to
prior projections of 31 percent to 34 percent. Adjusted EBIT margin is
expected to be approximately 8 percent to 9 percent. This compared with
prior projections of 7 percent to 9 percent.
The Company also announced it will issue its fourth quarter and year end
2015 financial results on February 11, 2016 immediately after market
close followed by a conference call at 3:30 p.m. Central Time (4:30 p.m.
Eastern Time) to discuss the fourth quarter and year end 2015 results.
Fourth Quarter and Full Year 2015 Conference
Call and Webcast Information:
Analysts and investors are invited to join the Company’s quarterly
financial conference call. The details of the conference call are as
follows:
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Date: Thursday, February 11, 2016
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Time: 3:30 p.m. Central Time (4:30 p.m. Eastern Time)
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U.S. Conference Call Number: (877) 359-9508
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International Conference Call Number: (224) 357-2393
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Pass Code: 26518603
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Webcast: http://investor.knowles.com
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A conference call replay will be available after 7:00 p.m. Central time
on February 11 through 11:59 p.m. Central time on February 18 at (855)
859-2056 (United States); (404) 537-3406 (International). The access
code is 26518603. A webcast replay will also be accessible after the
conference call via the Knowles website at http://investor.knowles.com.
About Knowles:
Knowles Corporation (NYSE: KN) is a market leader and global supplier of
advanced micro-acoustic solutions and specialty components serving the
mobile communications, consumer electronics, medical technology,
military, aerospace and industrial markets. Knowles has a leading
position in micro-electro-mechanical systems microphones, speakers and
receivers which are used in smartphones, tablets and mobile handsets.
Knowles is also a leading manufacturer of transducers used in hearing
aids and other medical devices and has a strong position in oscillators
(timing devices) and capacitor components which enable various types of
communication. Knowles’ focus on the customer, combined with unique
technology, rigorous testing and global scale, helps to deliver
innovative solutions and consistently dependable and precise products.
Founded in 1946 and headquartered in Itasca, Illinois, Knowles has more
than 13,000 employees in 15 countries around the world. For more
information, visit www.knowles.com.
Forward Looking Statements
A number of forward-looking statements are included in this press
release, including preliminary results for Knowles’ fourth quarter of
2015. Forward-looking statements are any statements that are not
historical facts. The words “anticipate,” “expect,” “project,” “will,”
and similar expressions, among others, generally identify
forward-looking statements. These forward-looking statements are based
on the current plans and expectations of Knowles and are expressed in
good faith and believed to have a reasonable basis, but there can be no
assurance that such plans or expectations will be achieved or
accomplished. Because forward-looking statements involve risks and
uncertainties, Knowles’ actual results could differ materially from
those projected, anticipated or implied in these statements. Factors
that could cause actual results or events to differ materially from
those anticipated include the matters described under the sections
entitled “Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” in Knowles’ Form 10-K
filed with the SEC. Knowles disclaims any duty to update any
forward-looking statement, except as required by law.
Non-GAAP Reporting
In addition to the GAAP results included in this press release, Knowles
has presented non-GAAP gross profit margin and Adjusted EBIT, each of
which are non-GAAP financial measurements. These non-GAAP measures
exclude among other items, amortization of intangibles, stock-based
compensation, production and restructuring related costs, and related
tax effects on these items. Knowles uses non-GAAP measures as
supplements to its GAAP results of operations in evaluating certain
aspects of its business, and its Board of Directors and executive
management team focus on non-GAAP items as key measures of Knowles’
performance for business planning purposes. These measures assist
Knowles in comparing its performance between various reporting periods
on a consistent basis, as these measures remove from operating results
the impact of items that, in Knowles’ opinion, do not reflect its core
operating performance. Knowles believes that its presentation of
non-GAAP information is useful because it provides investors and
securities analysts with the same information that Knowles uses
internally for purposes of assessing its core operating performance.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160113005250/en/
Source: Knowles Corporation
Knowles Corporation
Mike Knapp
Investor Relations
Phone:
630.238.5236
Email: mike.knapp@knowles.com