Knowles (KN) Tops Q4 EPS by 3c

Knowles (NYSE: KN) reported Q4 EPS of $0.37, $0.03 better than the analyst estimate of $0.34. Revenue for the quarter came in at $223.8 million versus the consensus estimate of $224.4 million.

“We reported year over year revenue growth in Q4 as we continue to diversify our markets and focus on higher value solutions,” said Jeffrey Niew, president and CEO of Knowles. “For 2018, we were pleased to deliver 11 percent top line growth, ahead of the expectations we had earlier in the year and above the growth rates of most of the end markets we serve. We saw strong MEMS microphone demand and higher-than-expected sales of Intelligent Audio solutions across Mobile, Ear, and IoT markets. Sales into the Hearing Health market were also higher. In Precision Devices, strong demand for our differentiated products across multiple end markets drove record sales.”

“As we enter 2019, we are well positioned to drive revenue and earnings growth for the full year in the Audio and Precision Devices segments. While we expect our first quarter of 2019 to be impacted by an inventory correction in the handset market, we anticipate returning to year-over-year growth in the second quarter. I believe that our focus on higher value solutions will enable us to continue to outpace growth in our end markets,” continued Niew.

For earnings history and earnings-related data on Knowles (KN) click here.

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