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Sales, Profits Up for Gentex
Gentex Corp. reports its first-quarter revenue rose 10% to $406 million, and net earnings grew 4% to $80 million.
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Gentex Corp. reports its first-quarter revenue rose 10% to $406 million, and net earnings grew 4% to $80 million. Operating income climbed 12% to $121 million.
The Zeeland, Mich.-based maker of automatic dimming mirrors and automotive electronics says an 11% hike in first-quarter shipments of its mirrors drove a 9% increase to $394 million in its automotive operations. Sales of the company’s dimmable aircraft windows and fire protection products jumped 39% to $12 million.
Gentex, citing data from IHS Automotive, expects global light-vehicle production to rise 2% to 51.7 million units this year. The company reiterates its full-year guidance for sales of $1.6 billion-$1.7 billion.
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