Knowles Corp Form 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed by Knowles Corporation on November 28, 2017. The report discloses a material event under Item 7.01 (Regulation FD Disclosure) regarding the completion of a strategic divestiture.
Key Financial Metrics
The filing text does not provide specific financial values such as revenue, profit, cash flow, margins, debt, or liquidity figures for this transaction. The document serves as a notification of the event rather than a financial statement.
Material Changes
- Asset Sale Completed: Knowles Corporation completed the sale of its timing device (oscillator) business.
- Segment Impact: The divested business was part of the company's Precision Devices segment.
- Acquirer: The business was sold to Microsemi Corp. - High Performance Timing, a subsidiary of Microsemi Corporation.
Outlook, Risks, and Management Commentary
Management commentary is limited to the announcement of the transaction's completion. The filing references a press release (Exhibit 99.1) for further details but does not contain specific forward-looking guidance, risk factors, or contingency disclosures within the body of this report.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for the purchase price and specific terms of the sale to Microsemi Corp.
- Verify the impact of this divestiture on the Precision Devices segment's future revenue and operating results.
- Confirm whether the transaction resulted in any immediate cash proceeds or assumption of debt by the acquirer.
- Check subsequent filings for any updated financial guidance reflecting the removal of the oscillator business.