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Knowles Corporation (NYSE: NYSE:KN), a provider of high-performance capacitors and RF products, today announced its MIL-PRF-55681 capacitors have qualified for manufacturing and testing in the United States. The capacitors, designed to meet the Defense Logistics Agency's stringent standards for defense and aerospace applications, will also be listed on the U.S. Department of Defense's Qualified Products List (QPL).
The MIL-PRF-55681 certification requires suppliers to undergo rigorous testing to ensure capacitors meet specific technical requirements, including temperature stability and reliability under mechanical stress. "We've taken this essential step to further support our U.S. military customer base," said Amrita Khemchandani, VP of Ceramic Capacitors at Knowles.
By securing a place on the QPL, Knowles capacitors are recognized for their robustness and consistent performance in demanding environments, a critical factor for military applications where failure risks must be minimized. This listing is expected to streamline the procurement process for government projects by reducing the need for additional quality audits and testing.
Knowles, known for its custom, high-reliability capacitors, now offers standard military qualified capacitors for use in guidance and control systems, radar systems, electronic warfare, and power supply units, among other high-risk applications.
Founded in 1946 and headquartered in Itasca, Illinois, Knowles serves various markets, including medtech, defense, consumer electronics, and industrial sectors. The company's capacitors are part of its broader portfolio, which includes advanced micro-acoustic microphones and speakers, serving a global customer base.
In other recent news, Knowles Corporation reported strong growth for the second quarter of 2024, with revenues reaching $205 million, an 18% increase year-over-year. The company's Precision Devices segment saw a 55% revenue increase, while its Medtech & Specialty Audio segment and Consumer MEMS Microphone business grew by 4% and 9% respectively.
InvestingPro Insights
As Knowles Corporation (NYSE: KN) solidifies its position in the defense and aerospace sectors with its MIL-PRF-55681 capacitors, investors may find the company's financial health and market performance to be of particular interest. According to InvestingPro data, Knowles has a market capitalization of $1.54 billion, reflecting its standing in the industry. Despite not being profitable over the last twelve months, analysts are optimistic, predicting the company will reach profitability this year. This forward-looking sentiment is supported by a strong free cash flow yield, as indicated by one of the InvestingPro Tips.
Knowles' commitment to share value is evident as management has been actively engaging in share buybacks, a strategy that can often signal confidence in the company's future prospects. Moreover, the company's liquid assets surpass its short-term obligations, suggesting a solid financial cushion to support ongoing operations and strategic initiatives.
Investors looking for additional insights will find a wealth of information on InvestingPro, which lists several more tips to help in their assessment of Knowles' investment potential. For example, the platform offers a comprehensive analysis of the company's financials, including revenue growth and profitability forecasts. To delve deeper into Knowles' financial metrics and to uncover the full range of InvestingPro Tips, interested parties can visit InvestingPro.
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