ITASCA, Ill., Jul 28, 2014 (BUSINESS WIRE) — Knowles Corporation KN -1.86% , a market leader and global supplier of advanced micro-acoustic solutions and specialty components, today announced results for the second quarter ended June 30, 2014 and provided projections for the third quarter of 2014.
“Our second quarter results were above our prior projections,” said Jeffrey Niew, President and CEO of Knowles. “We delivered better-than-expected revenue driven by both our Mobile Consumer Electronics and Specialty Components segments. We saw stronger demand for our micro-acoustic solutions from North American and Chinese OEM customers, and sales of Precision Devices were better than anticipated aided by continued 4G/LTE infrastructure spending, particularly in China.”
“Based on our current expectations of customer product launches and projected builds in the second half of the year, we continue to anticipate that 2014 will be a year of modest revenue growth for Knowles. In addition, restructuring initiatives across our business units are all on track and we remain committed to delivering year-over-year operating margin expansion in the fourth quarter of 2014.”