Knowles Announces Preliminary First Quarter 2020 Results and Sets Date to Review Detailed Results - Seite 2

Investors can also listen to the conference call at 3:30 p.m. Central time on May 4, 2020 by calling [phone] (United States) or [phone] (International). The conference call replay will be available after 7:00 p.m. Central time May 4, 2020 through 11:59 p.m. Central time on May 11, 2020 at [phone] (United States) or [phone] (International). The access code is 8347754.

Non-GAAP Financial Measures

In addition to the GAAP results included in this press release, Knowles has presented supplemental expected non-GAAP diluted earnings per share for the first quarter of 2020 that excludes approximately $0.05 per share in restructuring charges, $0.05 per share in amortization of intangibles and debt discount, $0.04 per share in stock-based compensation, and $0.02 per share of income tax effects that are included in diluted earnings per share, the most directly comparable GAAP measure. These non-GAAP measures are used to facilitate evaluation of Knowles’ operating performance. Non-GAAP results are not presented in accordance with GAAP. Non-GAAP information should be considered a supplement to, and not a substitute for, financial statements prepared in accordance with GAAP. In addition, the non-GAAP financial measures included in this press release do not have standard meanings and may vary from similarly titled non-GAAP financial measures used by other companies. Knowles believes that non-GAAP measures are useful as supplements to its GAAP results of operations to evaluate certain aspects of its operations and financial performance, and its management team primarily focuses on non-GAAP items in evaluating Knowles’ performance for business planning purposes. Knowles also believes that these measures assist it with comparing its performance between various reporting periods on a consistent basis, as these measures remove from operating results the impact of items that, in Knowles’ opinion, do not reflect its core operating performance including, for example, stock-based compensation, certain intangibles amortization expense, fixed asset impairment charges, restructuring, production transfer costs, and other charges which management considers to be outside our core operating results. Knowles believes that its presentation of these non-GAAP financial measures is useful because it provides investors and securities analysts with the same information that Knowles uses internally for purposes of assessing its core operating performance.