ITASCA, Ill.--(BUSINESS WIRE)--Apr. 17, 2014--
Knowles Corporation (NYSE: KN), a market leader and global supplier of
advanced micro-acoustic solutions and specialty components, today
updated projections that were originally provided at the Company’s
analyst day on February 19, 2014. Knowles anticipates that its former
parent company, Dover Corporation, will soon file its first quarter Form
10-Q with discontinued operations information which will include,
combined with other information, Knowles’ financial performance for the
first two months of that quarter.
The Company currently anticipates revenue for the first quarter of 2014
to be between $270 and $275 million, above the high end of the projected
range provided at the Company’s analyst day. Non-GAAP operating profit
is expected to be between $31 and $33 million, within the range
previously projected. Please see discussion of non-GAAP financial
measures below.
Knowles will issue first quarter 2014 financial results on April 28,
2014 after 3:00 p.m. Central time.
First Quarter 2014 Webcast and Conference Call Information
Investors can listen to a live or replay webcast of the Company’s
quarterly financial conference call at http://investor.knowles.com.
The live webcast will begin at 3:30 p.m. Central time on April 28, 2014.
The webcast replay will be available after 7:00 p.m. Central time on
April 28, 2014.
Investors can also listen to the live call at 3:30 p.m. Central time on
April 28, 2014 by calling (877) 359-9508 (United States) or (224)
357-2393 (International). The conference call replay will be available
after 7:00 p.m. Central time on April 28, 2014 through 11:59 p.m.
Central time on May 5, 2014 at (855) 859-2056 (United States) or (404)
537-3406 (International). The access code is 13873943.
About Knowles:
Founded in 1946, 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. Headquartered in Itasca, Illinois, Knowles has more than
10,000 employees in 37 locations 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. 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’s 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 operating profit, a non-GAAP financial
measurement. 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.
Source: Knowles Corporation
Knowles Corporation
Financial Contact:
Mike Knapp
Knowles
Investor Relations
Phone: (630) 238-5236
Email: mike.knapp@knowles.com
or
Press
Contact:
Melissa York
Knowles Communications
Phone: (630)
238-5242
Email: melissa.york@knowles.com