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
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.