ITASCA, Ill. (AP) _ Knowles Corp. (KN) on Thursday reported third-quarter net income of $25.4 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Itasca, Illinois-based company said it had profit of 27 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 38 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 38 cents per share.
The maker acoustic components such as microphones posted revenue of $235.9 million in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $235.5 million.
For the current quarter ending in December, Knowles expects its per-share earnings to range from 37 cents to 43 cents.
The company said it expects revenue in the range of $225 million to $250 million for the fiscal fourth quarter.
Knowles shares have increased 62% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $21.56, an increase of 57% in the last 12 months.