ZEELAND, MI (WHTC) - On the same day that the first billion-dollar sales year was announced, Gentex stock fell 10 percent on Wall Street. The Zeeland-based parts maker reported quarterly sales of nearly 274 million dollars to end 2011 at the billion-dollar mark, but analysts cited missed targets in sales and profits as the reason for investors to drive down the per-share price to just under 27 dollars. Per-share earnings were 28 cents for the quarter and a dollar-14 for the year. In a statement, Gentex Chairman and CEO Fred Bauer said that continued strong global demand was the biggest reason for the company's banner economic performance. The results come four days after Governor Snyder toured the complex and touted Gentex' successes.
