Gentex Misses Projected Quarterly Results

ZEELAND, MI (WHTC) – Gentex missed projected expectations for the fourth quarter. The specialty parts maker from Zeeland reported a seven percent growth in sales to 350.4 million dollars, and a two percent increase in profits at 71 million, or 24 cents per share. Wall Street was expecting 13 percent sales and 26 cents earnings improvements. Inventory adjustments by certain customers led to the lesser returns over the past three months. For the year, Gentex had net sales of 1.38 billion dollars, up 17 percent, and net income of 288.6 billion, up 29 percent.