KNOWLES CORPORATION Reports Fourth Quarter Fiscal Year 2022 Earnings Results for February 9, 2023.
March 26, 2023
Earnings Overview
For the fourth quarter of its fiscal year 2022, ending February 9, 2023, KNOWLES CORPORATION ($NYSE:KN) reported total revenue of USD -208.0 million, a decrease of 324.6% compared to the same quarter in 2021. Net income was USD 197.1 million, a decrease of 15.9% year-over-year. The results were reported on December 31, 2022.
Transcripts Simplified
Knowles Corporation reported fourth quarter revenues of $197 million, down 16% from the prior year period. Precision devices segment delivered revenues of $63 million, up 9%, and gross margins of 48.6%. Consumer MEMS mic revenues were $72 million, down 31%, and for the full year, revenue was down 33%.
Gross profit margins for the quarter were 40.4%, up 190 basis points above the guidance range, and 47.2% for the full year. Medtech and specialty audio segment gross margins were 51.6% for the quarter and 49.9% for the full year, up 120 and 270 basis points respectively.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Knowles Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 764.7 | -430.1 | -18.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Knowles Corporation. More…
| Operations | Investing | Financing |
| 86.3 | -32.7 | -73.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Knowles Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.18k | 191 | 10.9 |
Key Ratios Snapshot
Some of the financial key ratios for Knowles Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -3.6% | -8.4% | -54.1% |
| FCF Margin | ROE | ROA |
| 7.1% | -23.8% | -21.9% |
Share Price
On Thursday, KNOWLES CORPORATION reported its fourth quarter fiscal year 2022 earnings results, with the company’s stock opening at $19.0 and closing at $18.9—a 0.2% increase from its prior closing price of $18.8. Investor sentiment is generally positive for the company, as its long-term prospects remain stable despite some short-term volatility in the share price. KNOWLES CORPORATION has positioned itself as a leader in its domestic market, and is looking to expand further into global markets as it seeks to capitalize on its current performance. The company continues to invest heavily in research and development, enabling it to stay ahead of the curve when it comes to cutting-edge technology and innovative product offerings. Live Quote…
Analysis
At GoodWhale, we recently conducted an analysis of KNOWLES CORPORATION and we concluded that it is a high risk investment as far as financial and business aspects are concerned. Our Risk Rating gave it this score which is why we recommend further research and caution before any decision to invest. Additionally, our systems detected two risk warnings in the company’s income sheet and financial journal. If you wish to learn more, we suggest you register with us so you can have access to our detailed reports. We can provide you with more information about the risk factors, financial data and various other details of the company. More…
Peers
In the mobile phone industry, there is intense competition between Knowles Corp and its competitors AdvanceTC Ltd, Shenzhen CDL Precision Technology Co Ltd, and Sonim Technologies Inc. All four companies are vying for market share in the smartphone market.
– AdvanceTC Ltd ($OTCPK:ATCLF)
AdvanceTC Ltd is a company that provides telecommunications and IT services. It has a market cap of 12.16M as of 2022 and a return on equity of 271.78%. The company offers a range of services including voice, data, and video communications. It also provides IT services such as cloud computing, data storage, and security.
– Shenzhen CDL Precision Technology Co Ltd ($SZSE:300686)
Shenzhen CDL Precision Technology Co Ltd is a precision technology company that specializes in the design and manufacture of high precision components and assemblies for the automotive, aerospace, and other industries. The company has a market cap of 3.26B as of 2022 and a return on equity of 0.17%.
– Sonim Technologies Inc ($NASDAQ:SONM)
Sonim Technologies Inc is a provider of ultra-rugged mobile phones and services designed for use in hazardous environments. The company has a market cap of 16.64M as of 2022 and a return on equity of -234.74%. Sonim’s products are used by a variety of industries, including construction, utilities, oil and gas, public safety, and manufacturing.
Summary
Investors should consider the latest earnings report from KNOWLES CORPORATION, a global provider of advanced micro-acoustic and audio solutions. Despite total revenue decreasing by 324.6%, net income decreased by only 15.9%, offering investors a positive outlook on the company’s financial health. Although the current economic conditions are uncertain, the company is demonstrating resilience and is taking steps to manage costs while expanding its market reach. With its strong balance sheet and considerable resources, KNOWLES CORPORATION has the potential to be an attractive investment for long-term growth.
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