Knowles Swings To Q2 Loss

(RTTNews) - Knowles Corp. (KN) reported a net loss for the second quarter of $78.9 million or $0.93 per share, compared with net earnings of $16.7 million or $0.20 per share for the year-ago quarter.

Excluding items, adjusted net earnings for the second quarter was $22.2 million or $0.26 per share, compared with $35.4 million or $0.42 per share in the prior year quarter.

Revenue for the second quarter fell to $281.0 million from $296.7 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.18 per share on revenue of $274.78 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts revenue of $310 million to $330 million and adjusted earnings of $0.45 to $0.52 per share. Analysts currently expect the company to earn $0.49 per share on revenue of $318.58 million for the third quarter.