Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
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.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.