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Gentex Reports Strong Quarterly Results


ZEELAND, MI (WHTC) - Gentex officials told shareholders and investors during a webcast this morning that net sales for the first quarter of 2014 were 335.7 million dollars, up 25 percent from the same three-month period last year, with a gross profit margin of 39 percent. Net income for the Zeeland-based parts maker was 68.6 million, a 51 percent increase from 2013, and earnings per share stood at 47 cents, up from 32 cents a year ago. Company officials explained that improvement in their core electrochromic mirror business, along with the addition of HomeLink, helped lead to the improved bottom line numbers. Gentex is estimating net sales in the second quarter will be up between 15 and 20 percent, with a gross profit margin of around 39 percent.