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Knowles: 3Q Earnings Snapshot

·1 min read

ITASCA, Ill. (AP) _ Knowles Corp. (KN) on Thursday reported third-quarter net income of $5.6 million.

On a per-share basis, the Itasca, Illinois-based company said it had net income of 6 cents. Earnings, adjusted for asset impairment costs and stock option expense, were 24 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 24 cents per share.

The maker acoustic components such as microphones posted revenue of $205.8 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $206 million.

For the current quarter ending in December, Knowles expects its per-share earnings to range from 27 cents to 33 cents.

The company said it expects revenue in the range of $210 million to $225 million for the fiscal fourth quarter.

Knowles shares have decreased 27% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.39, a decrease of 27% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KN at https://www.zacks.com/ap/KN