$KN
Knowles Corp

2014 Q1 Form 10-Q Financial Statement

#000158752314000016 Filed on May 12, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $273.4M $276.1M
YoY Change -0.98%
Cost Of Revenue $190.3M $181.6M
YoY Change 4.82%
Gross Profit $83.10M $94.50M
YoY Change -12.06%
Gross Profit Margin 30.4% 34.23%
Selling, General & Admin $52.50M $51.55M
YoY Change 1.84%
% of Gross Profit 63.18% 54.55%
Research & Development $19.20M $20.92M
YoY Change -8.2%
% of Gross Profit 23.1% 22.13%
Depreciation & Amortization $33.40M $31.14M
YoY Change 7.27%
% of Gross Profit 40.19% 32.95%
Operating Expenses $71.90M $72.47M
YoY Change -0.79%
Operating Profit $11.20M $22.09M
YoY Change -49.31%
Interest Expense -$700.0K -$11.90M
YoY Change -94.12%
% of Operating Profit -6.25% -53.86%
Other Income/Expense, Net -$400.0K $1.958M
YoY Change -120.43%
Pretax Income $10.10M $12.10M
YoY Change -16.56%
Income Tax $2.500M $210.0K
% Of Pretax Income 24.75% 1.73%
Net Earnings $7.600M $11.90M
YoY Change -36.13%
Net Earnings / Revenue 2.78% 4.31%
Basic Earnings Per Share $0.09 $0.14
Diluted Earnings Per Share $0.09 $0.14
COMMON SHARES
Basic Shares Outstanding 85.02M shares 85.02M shares
Diluted Shares Outstanding 85.13M shares 85.02M shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.40M
YoY Change
Cash & Equivalents $51.40M $9.248M
Short-Term Investments
Other Short-Term Assets $28.20M
YoY Change
Inventory $154.2M
Prepaid Expenses
Receivables $188.5M
Other Receivables $0.00
Total Short-Term Assets $422.2M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $350.9M
YoY Change
Goodwill $964.3M
YoY Change
Intangibles $312.5M
YoY Change
Long-Term Investments
YoY Change
Other Assets $32.33M
YoY Change
Total Long-Term Assets $1.660B
YoY Change
TOTAL ASSETS
Total Short-Term Assets $422.2M
Total Long-Term Assets $1.660B
Total Assets $2.082B
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $129.1M
YoY Change
Accrued Expenses $64.70M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $3.750M
YoY Change
Total Short-Term Liabilities $197.6M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $396.3M
YoY Change
Other Long-Term Liabilities $35.01M
YoY Change
Total Long-Term Liabilities $431.3M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $197.6M
Total Long-Term Liabilities $431.3M
Total Liabilities $628.9M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings $10.65M
YoY Change
Common Stock $850.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.404B
YoY Change
Total Liabilities & Shareholders Equity $2.082B
YoY Change

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $7.600M $11.90M
YoY Change -36.13%
Depreciation, Depletion And Amortization $33.40M $31.14M
YoY Change 7.27%
Cash From Operating Activities $43.20M $21.70M
YoY Change 99.08%
INVESTING ACTIVITIES
Capital Expenditures $23.90M $29.36M
YoY Change -18.59%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$28.30M -$31.60M
YoY Change -10.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities -68.80M 9.100M
YoY Change -856.04%
NET CHANGE
Cash From Operating Activities 43.20M 21.70M
Cash From Investing Activities -28.30M -31.60M
Cash From Financing Activities -68.80M 9.100M
Net Change In Cash -53.90M -800.0K
YoY Change 6637.5%
FREE CASH FLOW
Cash From Operating Activities $43.20M $21.70M
Capital Expenditures $23.90M $29.36M
Free Cash Flow $19.30M -$7.656M
YoY Change -352.09%

Facts In Submission

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0 USD
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CY2013Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
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CY2014Q1 us-gaap Research And Development Expense
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CY2013Q1 us-gaap Research And Development Expense
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CY2014Q1 us-gaap Restructuring And Related Cost Incurred Cost
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243000 USD
CY2014Q1 us-gaap Restructuring Charges
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CY2013Q1 us-gaap Restructuring Charges
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CY2013Q4 us-gaap Restructuring Reserve
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CY2014Q1 us-gaap Restructuring Reserve
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CY2014Q1 us-gaap Restructuring Reserve Accrual Adjustment
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CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
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0 USD
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CY2013Q1 us-gaap Sales Revenue Net
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CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2013Q1 us-gaap Selling General And Administrative Expense
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CY2014Q1 us-gaap Selling General And Administrative Expense
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CY2013Q1 us-gaap Share Based Compensation
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CY2014Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
0.5
CY2014Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
0 USD
CY2014Q1 us-gaap Stockholders Equity
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CY2013Q4 us-gaap Stockholders Equity
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CY2014Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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102934 shares
CY2013Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
85126796 shares
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
85019159 shares
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540000 USD
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85023862 shares
CY2014Q1 kn Adjustmentto Additional Paidin Capital Reclassificationdueto Separation
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0 USD
CY2014Q1 kn Capitalized Patent Defense Costs Investing Activities
CapitalizedPatentDefenseCostsInvestingActivities
4447000 USD
CY2013Q1 kn Capitalized Patent Defense Costs Investing Activities
CapitalizedPatentDefenseCostsInvestingActivities
2289000 USD
CY2014Q1 kn Changein Former Parent Company Borrowings Net
ChangeinFormerParentCompanyBorrowingsNet
0 USD
CY2013Q1 kn Changein Former Parent Company Borrowings Net
ChangeinFormerParentCompanyBorrowingsNet
24589000 USD
CY2014Q1 kn Effective Income Tax Rate Reconciliation Discrete Items
EffectiveIncomeTaxRateReconciliationDiscreteItems
2998000 USD
CY2014Q1 kn Effective Income Tax Rate Reconciliation Foreign Taxes Dueon Royalty Income
EffectiveIncomeTaxRateReconciliationForeignTaxesDueonRoyaltyIncome
1100000 USD
CY2013Q1 kn Effectivetaxrateexcludingdiscreteitems
Effectivetaxrateexcludingdiscreteitems
-0.027
CY2014Q1 kn Effectivetaxrateexcludingdiscreteitems
Effectivetaxrateexcludingdiscreteitems
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CY2013Q1 kn Increase Decrease Accrued And Deferred Taxes Net
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8032000 USD
CY2014Q1 kn Increase Decrease Accrued And Deferred Taxes Net
IncreaseDecreaseAccruedAndDeferredTaxesNet
-963000 USD
CY2013Q4 kn Net Former Parent Company Investment Priorto Separation
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1850602000 USD
CY2014Q1 kn Net Former Parent Company Investment Priorto Separation
NetFormerParentCompanyInvestmentPriortoSeparation
0 USD
CY2014Q1 kn Net Transfersto Former Parent Company
NetTransferstoFormerParentCompany
-470425000 USD
CY2014Q1 kn Nettransfers To From Former Parent Company
NettransfersToFromFormerParentCompany
465902000 USD
CY2013Q1 kn Nettransfers To From Former Parent Company
NettransfersToFromFormerParentCompany
-33669000 USD
CY2014Q1 kn Noncash Capitalized Patent Defense Costs
NoncashCapitalizedPatentDefenseCosts
4370000 USD
CY2013Q1 kn Noncash Capitalized Patent Defense Costs
NoncashCapitalizedPatentDefenseCosts
1631000 USD
CY2014Q1 kn Separationrelated Adjustments Netof Tax
SeparationrelatedAdjustmentsNetofTax
-19333000 USD
CY2014Q1 kn Stock Issued During Period Numberof Sharesfor Every Shareof Former Parents Common Stock Held
StockIssuedDuringPeriodNumberofSharesforEveryShareofFormerParentsCommonStockHeld
0.5 shares
CY2013Q4 kn Stockholders Equity Excluding Net Former Parent Company Investment
StockholdersEquityExcludingNetFormerParentCompanyInvestment
36525000 USD
CY2014Q1 kn Stockholders Equity Excluding Net Former Parent Company Investment
StockholdersEquityExcludingNetFormerParentCompanyInvestment
1404375000 USD
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001587523
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
85031959 shares
CY2014Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
Knowles Corp
CY2014Q1 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014Q1 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

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0001587523-14-000016.txt Edgar Link pending
0001587523-14-000016-xbrl.zip Edgar Link pending
a2014033110-q.htm Edgar Link pending
a2014033110-qexhibit311.htm Edgar Link pending
a2014033110-qexhibit312.htm Edgar Link pending
a2014033110-qexhibit321.htm Edgar Link pending
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