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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%.
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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.
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