Knowles Corp Stock Price, News & Analysis

Knowles (NYSE: KN) has announced a definitive agreement to sell its Consumer MEMS Microphones (CMM) business to Syntiant Corp for $150 million. This strategic move aims to transform Knowles into a premier industrial technology company, focusing on its Precision Devices and MedTech & Specialty Audio segments. The transaction includes $70 million in cash and $80 million in Syntiant preferred stock.

Key points:

• The deal is expected to close in Q4 2024, subject to regulatory approvals and conditions
• Knowles plans to use the net cash proceeds to pay down debt and repurchase company stock
• Pro forma revenue for Knowles' remaining businesses, including Cornell Dubilier's full year results, was $560 million in 2023
• Knowles has updated its Q3 2024 guidance and provided a Q4 revenue outlook for continuing operations

Knowles (NYSE: KN) announces its second key design win with JLab's Epic Sport ANC 3 True Wireless Earbuds. The earbuds feature Knowles balanced armatures (BAs) in a hybrid configuration, delivering superior treble performance with output up to 40 kHz, meeting JAS Hi-Res Audio certification standards. The BAs work with a 10mm dynamic driver in each earbud for a well-balanced sound across the full frequency curve.

The compact BAs enable a comfortable fit without compromising sound quality, range, or battery life. JLab incorporated the Knowles Preferred Listening Response Curve, available as an equalizer setting in the JLab app. The Epic Sport ANC 3 is priced at $99.99 in the US, £99.99 in the UK, and €119.99 in the EU, available later this month at www.jlab.com and other online retailers.

Knowles (NYSE: KN) has announced the manufacture and testing of MIL-PRF-55681 qualified capacitors in the United States. These ceramic capacitors, designed for mission-critical defense applications, will be listed on the U.S. Department of Defense's Qualified Products List (QPL). The MIL-PRF-55681 qualification involves rigorous testing protocols and strict compliance with technical requirements.

This development allows Knowles to provide immediate access to higher-level screened components for critical military applications. The capacitors have demonstrated robustness for consistent performance under demanding environmental conditions, suitable for use in guidance and control systems, radar systems, electronic warfare, and power supply units.

Knowles (NYSE: KN) has introduced the QAS Series, a new line of RC-type Arc Suppressor/Snubber components designed to extend the operating life of electronic and electro-mechanical devices. These components reduce early failures in relays, switch contacts, and solid-state components by minimizing electrical arcing at contact points. The QAS Series offers single-device RC networks in two-lead radial packages, providing a more compact and pre-tested solution compared to discrete networks.

Key features of the QAS Series include:

• Capacitance values up to 1.0uF
• Resistor values up to 680 ohms
• Voltage ratings up to 1600 Vdc/660 Vac, 60 Hz
• Operating temperature range of –55 °C to +85 °C

The devices are now available through Knowles' authorized distributors.

Knowles (NYSE: KN) reported Q2 2024 financial results, with revenues increasing 18% year-over-year to $205M, in line with guidance. The company generated $25 million in net cash from operations. Knowles expects sequential and year-over-year revenue growth in Q3 2024 for its Medtech and Specialty Audio and Precision Devices segments, along with sequential earnings growth and strong cash generation.

Key financial highlights include:

• Q2 2024 revenues: $204.7M
• Non-GAAP gross profit: $79.7M (38.9% of revenues)
• Non-GAAP diluted earnings per share: $0.24
• Net cash provided by operating activities: $24.9M

The company's transition to higher value markets and products is progressing well, with improving demand across several end markets within the Precision Devices segment.

Knowles (NYSE: KN), a leading global supplier of high-performance electronics, announced that it will release its second quarter 2024 financial results on July 31, 2024.

The results will be disclosed immediately after market close, followed by a conference call to discuss the results and outlook at 3:30 p.m. Central time (4:30 p.m. Eastern time). The call can be accessed via toll-free and toll dial-in numbers or through a webcast available on the company's investor relations website.

A replay of the conference call will be available from July 31, 7:00 p.m. Central time until August 7, 11:59 p.m. Central time, through both toll-free and toll dial-in numbers, as well as the company's website.

Knowles (NYSE: KN), a global supplier of high-performance components and solutions, has appointed Jason Cardew to its Board of Directors.

Cardew, with over 30 years of experience at Lear , will expand the Board to 10 directors.

Currently serving as Lear's Senior VP and CFO, Cardew brings extensive executive, financial, and leadership experience.

He will also join Knowles' Audit Committee.

Chairman Don Macleod emphasized the value of Cardew's automotive OEM market insights in enhancing shareholder value.

Knowles (NYSE: KN) has announced a collaboration with Audiodo to deliver personalized, high-fidelity audio experiences through their combined technologies. Knowles' balanced armature (BA) drivers and Audiodo’s sound personalization platform will enhance over-the-counter (OTC) hearing aids and true wireless stereo (TWS) earbuds, including Meizu's new LIVE AI Noise Cancelling Hi-Fi Earbuds. A recent study highlighted that 60% of TWS buyers prioritize hearing personalization. Audiodo's app allows users to analyze their hearing profiles and customize audio output in about three minutes. This partnership aims to revolutionize audio content interaction by ensuring precise, personalized sound across all frequency ranges.

Knowles , a global leader in micro-acoustic microphones, speakers, audio solutions, and high-performance capacitors, announced the expansion of its custom miniaturization services to MedTech OEMs. Known for precision and reliability, Knowles will provide design, development, and manufacturing services for scalable miniature components and assemblies. This move aims to support MedTech innovations in implantable devices, surgical instruments, robotics, diagnostics, and drug delivery systems. Leveraging state-of-the-art technologies, Knowles ensures micron-level accuracy and robust quality, enhancing production efficiency and cost-effectiveness.