ZEELAND, MI (WHTC-AM/FM) – It was a bounce-back quarter for Gentex.
The Zeeland-based speciality parts maker issued its earning report for the three-month period before the markets opened today. In it, Gentex cited net sales of over 459 million dollars for the quarter, up nine percent over last year at this time, due primarily to a 13 percent increase in auto-dimming interior and exterior rearview mirror shipments. For the year, the company claimed a seven-percent improvement in net sales to 1.79 billion dollars.
President and CEO Steve Downing said in a statement that Gentex was “pleased to see a solid rebound in revenue and unit growth for the quarter, and to see continued gross margin improvement during the second half of the year, despite the fact that we have been battling against difficult comparisons in product mix, as well as our typical annual price reductions.”
Gentex’ earnings were 46 cents per share for the quarter, up 48 percent from a year ago, and a dollar-41 for 2017, an 18 percent improvement.
