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Gentex Posts 22% Gain in First-Quarter Profit
Gentex Corp. reports its first-quarter revenue rose 12% to $454 million, and net earnings surged 22% to $98 million.
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Gentex Corp. reports its first-quarter revenue rose 12% to $454 million, and net earnings surged 22% to $98 million.
Operating income for the period grew 11% to $134 million for the Zeeland, Mich.-based maker of automatic-dimming rearview mirrors. Gentex shipped 9.9 million mirror systems worldwide in January-March, up 12% from the same period last year.
More than 70% of the total volume consists of the company’s electronic interior mirrors. Gentex also makes dimmable aircraft windows and fire protection products. Those businesses contributed $9 million in sales, down from 12% million in the first quarter of 2016.
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