Knowles Corp. revenue up during pandemic

ITASCA - Knowles Corp., a maker of hearing aides, microphones and other acoustic and audio processing devices, reported revenues in fiscal year 2020 were $243 million, up from $234 million in 2019.

Net earnings were $29.6 million, compared to $20.5 million in the prior year, the company said.

"We were able to deliver strong second half financial results through a combination of improving Audio (segment) demand and solid operational execution across the company. I believe we are well positioned to deliver strong growth in revenue and earnings in 2021," said Jeffrey Niew, president and CEO of Knowles.

Device revenues were in line with the company's expectations as shipments into medtech and defense markets continue to be impacted by COVID-19, Niew said.

Fourth quarter revenue was well above the company's guidance, primarily driven by stronger-than-expected microphone demand in multiple end markets and improving trends in its Hearing Health business, Knowles said.