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Dec 31, 2019
Knowles Q4 2019 Earnings Report
Reported revenues within guidance, up 5% year-over-year, but EPS was below guidance due to Precision Devices' gross margins.
Key Takeaways
Knowles Corporation reported Q4 2019 revenues of $234 million, a 5% increase year-over-year. However, the gross margins for the Precision Devices segment were below expectations, resulting in EPS that was below the guidance range. The company anticipates total company gross margin improvement in 2020.
Q4 revenues increased by 5% year-over-year.
Revenues from non-mobile sources accounted for more than 70% of total sales in 2019.
Precision Devices sales increased by double digits year-over-year.
Record cash from operations of $124 million in 2019 was achieved.
Knowles
Knowles
Forward Guidance
For the quarter ending March 31, 2020, Knowles expects revenues between $160 million and $190 million, and EPS between ($0.02) and $0.06 on a GAAP basis, and non-GAAP EPS between $0.08 and $0.16.