Knowles Reports Q3 2015 Financial Results
ITASCA, Ill.–(BUSINESS WIRE)–Oct. 26, 2015– Knowles Corporation (NYSE: KN), a market leader and global supplier of advanced micro-acoustic solutions and specialty components, today announced results for the third quarter ended September 30, 2015.
“We are pleased to report Q3 revenues were up over 20 percent sequentially, with gross margin and earnings per share coming in at the high-end of our expectations,” said Jeffrey Niew, President and CEO of Knowles. “In our mobile consumer segment, we saw a strong sequential sales increase driven by significant growth at a North American OEM, new product launches from a Korean OEM and normal seasonality. This growth was partially offset by lower sales to Chinese OEMs. Sales of specialty components were down slightly due to softer-than-expected timing device demand and lower hearing health sales following a very strong second quarter.”“For Q4, we anticipate a solid finish to the year with the midpoint of guidance highlighting sequential revenue growth in both of our business segments and improved operating margins. Our core microphone business has improved significantly from the beginning of the year, and we look forward to continued multi mic adoption and increased traction with intelligent audio solutions to fuel future growth.”
Source: News Release – Knowles.com