Net Profit Slips at Gentex
Gentex Corp., the global supplier of self-dimming rearview mirrors, hiked second-quarter revenue 12% to $379 million even though global production of the light vehicles that use them declined 1%.
#economics
Gentex Corp., the global supplier of self-dimming rearview mirrors, hiked second-quarter revenue 12% to $379 million even though global production of the light vehicles that use them declined 1%.
Operating income grew 8% to $108 million for the Zeeland, Mich.-based supplier. But net earnings in April-June slipped 3% to $75 million because of higher taxes and a 60% drop in income from the sale of equity investments.
Gentex expects light-vehicle production will rise 2% to 25 million in the second half of 2015, resulting in a full-year gain of 1% to 50.9 million cars and light trucks. The company has increased its full-year sales estimate slightly to about $1.5 billion.
RELATED CONTENT
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
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.