Knowles Corp Stock Price, News & Analysis

Knowles (NYSE: KN) has completed the sale of its Consumer MEMS Microphones business to Syntiant Corp. This transaction marks a significant milestone in Knowles' transformation into a premier industrial technology company. The company aims to focus on higher value markets where it can drive value through product design, process technology, and customized solutions at scale. The sale concludes the strategic alternatives evaluation for the business that was announced on September 18, 2023. Jefferies acted as exclusive financial advisor, while Sidley Austin LLP served as legal counsel for the transaction.

Knowles (NYSE: KN) has appointed Laura Angelini as an independent director to its Board of Directors. Angelini brings 30 years of experience in the medical device and healthcare industry, having served as General Manager of Renal Care Global Business Unit at Baxter International (2016-2021) and various leadership roles at Johnson & Johnson (1991-2016). She currently serves on the boards of DCC plc and Identiv, Inc.

The appointment aligns with Knowles' strategic transformation towards higher value markets and products. Angelini will also serve as a member of the Compensation Committee of Knowles' Board of Directors.

Knowles (NYSE: KN), a global supplier of high-performance components including capacitors, RF filters, medtech microphones, and balanced armature speakers, has announced its participation in The Baird 2024 Global Industrial Conference. The event will take place in Chicago on November 14, 2024, featuring President and CEO Jeff Niew and CFO John Anderson. Interested parties can schedule meetings with management through their Baird representatives.

Knowles (NYSE: KN) has partnered with Mimi Hearing Technologies to create innovative audio solutions for wireless devices. The collaboration debuts in the Breggz ZOHN-1 in-ear computer, combining Knowles' balanced armature drivers with Mimi's sound personalization software. This integration enables customized audio experiences tailored to users' unique hearing profiles while protecting against hearing loss. The technology addresses both premium audio quality and hearing health needs, particularly relevant as consumers spend over four hours daily consuming audio content.

Knowles (NYSE: KN) reported strong Q3 2024 financial results with revenues from continuing operations reaching $143M, up 32% year-over-year, driven by the Cornell acquisition and 4% organic growth. The company achieved $52.8M in net cash from operations, exceeding guidance. Q3 non-GAAP gross profit margin was 45.5%, with diluted EPS of $0.26. Both Medtech & Specialty Audio and Precision Devices segments showed growth. Notably, Knowles signed an agreement to sell its Consumer MEMS Microphones business, focusing on higher-margin markets.

Knowles (NYSE: KN), a leading global supplier of high-performance electronics, has announced the release date for its third quarter 2024 financial results. The company will issue the results on October 24, 2024, after market close, followed by a conference call at 3:30 p.m. Central time (4:30 p.m. Eastern time) to discuss the results and company outlook.

Analysts and investors can join the conference call using the provided toll-free and toll dial-in numbers, along with the conference ID. A webcast of the call will also be available. A conference call replay will be accessible from 7:00 p.m. Central time on October 24 through 11:59 p.m. Central time on October 31. Additionally, a webcast replay will be available on the Knowles website for a time.

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.