Mexican Media Brands
Gentex Quarterly Profit Jumps 23%
Electronic rearview mirror supplier Gentex Corp. reports its net earnings climbed to $111 million in the third quarter from $90 million in the same period last year.
#economics #electronics
Share
Electronic rearview mirror supplier Gentex Corp. reports its net earnings climbed to $111 million in the third quarter from $90 million in the same period last year.
Revenue for the period grew 5% to $460 million, for the Michigan-based company. The company described the light-vehicle production environment as “tough,” with output below industry forecasts this year.
Gentex expects global light-vehicle production will grow 2% to 13.4 million units in October-December but finish the year flat at 52.4 million vehicles.
Gentex estimates trade tariffs imposed this year will boost its costs about $6 million in the fourth quarter. But the company affirms that it expects revenue in 2018 will grow 5%-10% from this year’s $1.9 billion.
RELATED CONTENT
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.