Gentex Corporation (GNTX) Quote

$GNTX great article Gentex Corporation Nasdaq Gntx Short Squeeze

News: $GNTX Gentex Reports Second Quarter 2019 Financial Results

ZEELAND, Mich., July 19, 2019 (GLOBE NEWSWIRE) -- Gentex Corporation (NASDAQ: GNTX), a leading supplier of digital vision, connected car, dimmable glass and fire protection technologies, today reported financial results for the three and six months ended June 30, 2019. 2nd Qu...

Got this from Gentex Reports Second Quarter 2019 Financial Results

News: $GNTX Gentex Reports First Quarter 2019 Financial Results

ZEELAND, Mich., April 24, 2019 (GLOBE NEWSWIRE) -- Gentex Corporation (NASDAQ: GNTX), a leading supplier of digital vision, connected car, dimmable glass and fire protection technologies, today reported financial results for the three months ended March 31, 2019. 1st Quarter ...

Got this from https://marketwirenews.com/news-releases/gentex-reports-first-quarter-2019-financial-results-8049048.html

I smell something fishy going on stock is dropping as the market is rising and a lot of insiders slowing selling this quarter hmmm.. I hope I am wrong.

GNTX - very nice long term investment.

GNTX

NHTSA needs to get their shit together IMO

Gentex VP of Finance Off to "Pursue Other Interests"

Gentex quietly "loses" their VP of Finance, he is off to "Pursue Other Interests", we all know what that means! Who holds a Financial Conference Call at 6pm? Officer Change Conference Transcript

Newton says "When we do have officers leave the company at Gentex on a rare times that it occurs,...", what? Rare? Dykman, Fogg, Knapp, Deur, and now apparently Hamlin have all left or been allowed to pursue other interests (fired? Fogg & Deur) in the last 6 years, a rate of almost 1/year, 3 in a little over a year, hardly rare.

Baird, one of their long time supporters downgraded them on the 9th, take your profits now?

Gentex Reports First Quarter Financial Results

8:04 AM ET 4/23/13 | Marketwire

Gentex Corporation (NASDAQ: GNTX), the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and camera-based lighting and driver-assist systems for the automotive industry, commercial fire protection products and dimmable aircraft windows, today reported financial results for the first quarter ended March 31, 2013.

For the first quarter of 2013, the Company's net sales decreased by seven percent to $269.5 million compared with $290.7 million in the first quarter of 2012.

The gross profit margin improved on a sequential basis to 34.7 percent in the first quarter of 2013 compared with 34.2 percent in the fourth quarter of 2012, primarily due to purchasing cost reductions and product mix, partially offset by annual customer price reductions. The gross profit margin was flat on a quarter-over-quarter basis at 34.7 percent in the first quarter of 2013 compared with the first quarter of 2012, with the impact of annual customer price reductions being offset by purchasing cost reductions and product mix.

Net income of $45.4 million for the first quarter of 2013 decreased by approximately two percent compared with net income of $46.3 million in the first quarter of 2012. Earnings per diluted share were flat at 32 cents in the first quarter of 2013 compared with the first quarter of 2012.

"We are happy to report that our gross profit margin improved sequentially in the first quarter of 2013, despite difficult production environments in the regions of Japan and Korea, and Europe, which account for the majority of the Company's unit shipments," said Gentex Chairman of the Board and Chief Executive Officer Fred Bauer. "We also are pleased that we are continuing to demonstrate positive efficiencies within our operating expenses."

Technology/Product Update

In the first quarter of 2013, the Company launched a number of auto-dimming mirror applications with several automakers with various combinations of advanced technologies, including compass, microphones, telematics and wireless control systems, SmartBeam(R) and driver assist camera products.

The Company also received a number of customer performance and quality awards in the first quarter, including:

View data
-- Quality Excellence Award from a major European automotive customer
-- Quality & Delivery Award and Excellence In Partnership Award from
a major Asian automotive customer
-- High Beam System Technology Award from a major Asian automotive
customer, which was awarded for a Gentex SmartBeam(R) Dynamic
Forward Lighting application, adding to a history of technology awards
for SmartBeam High Beam Assist and SmartBeam Dynamic Forward Lighting
products with various customers.


-- Quality Excellence Award from a major European automotive customer -- Quality & Delivery Award and Excellence In Partnership Award from a major Asian automotive customer -- High Beam System Technology Award from a major Asian automotive customer, which was awarded for a Gentex SmartBeam(R) Dynamic Forward Lighting application, adding to a history of technology awards for SmartBeam High Beam Assist and SmartBeam Dynamic Forward Lighting products with various customers.

The Company continues in development and launch of new awarded business in all product technology areas, including interior auto-dimming mirrors with new frameless designs; lighting applications with new optoelectronics; new digital microphones; many different displays in new sizes with faster processing and increased graphics capabilities; new wireless control systems that send and receive signals from garage doors, gates, lights, locks, and security systems; SmartBeam with advanced detection for tunnels, curves, fog, and for use on all headlamp technologies, including halogen, Xenon, and LED; driver-assist systems with new object-detection capabilities; and exterior auto-dimming mirrors with new curved glass applications.

The Company continues to believe that SmartBeam and driver assist unit shipments will increase in calendar year 2013 by approximately 10-15 percent compared with calendar year 2012, based on the IHS April 2013 forecast for annual light vehicle production, which includes a three percent decline in European light vehicle production, as well as larger forecasted percentage decreases in the mid-size luxury class vehicle model segment, which currently is one of the Company's primary markets for these features. The Company is currently shipping SmartBeam and driver assist camera products for 84 vehicle models with ten automotive original equipment manufacturers (OEMs). The challenging European economic and market conditions continue to have a negative impact on product mix and option take rates.

The Company also continues to believe that Rear Camera Display (RCD) Mirror unit shipments in calendar year 2013 will decline by approximately 25-35 percent compared with calendar year 2012 (based on the IHS April 2013 forecast for annual light vehicle production), which includes estimated reduced RCD Mirror unit shipments to certain automotive customers who have previously announced they were moving the display for rear camera to the radio instead of the rearview mirror. After four delays, NHTSA has indicated that it now expects to finalize its rulemaking related to the Kids Transportation Safety Act in fiscal 2013. The Company is currently shipping RCD Mirrors for 58 vehicle models with ten automotive OEMS.

SmartBeam is the Company's high beam headlamp assist product that optimizes forward visibility by automating high beam usage, allowing drivers to better identify and react to potential hazards in the road ahead. Driver assist camera products utilize a multi-function camera combined with algorithmic decision making to perform certain tasks, such as automatic high beam assist, lane keeping and driver alert. The Company's Rear Camera Display Mirrors contain a liquid crystal display that works with an automaker-specified video camera mounted at the rear of the vehicle to provide a view directly behind the vehicle while backing up.

Unit Shipments and Net Sales Total auto-dimming mirror unit shipments increased by approximately one percent in the first quarter of 2013 compared with the first quarter last year. Automotive net sales declined by approximately eight percent to $263.0 million in the first quarter of 2013 compared with $285.7 million in the first quarter of 2012.

Auto-dimming mirror unit shipments increased by approximately eight percent in North America in the first quarter of 2013 compared with the same quarter of 2012, primarily as a result of increased mirror unit shipments to certain domestic and Asian transplant automakers. North American light vehicle production increased by approximately one percent in the first quarter of 2013 compared with the same quarter last year.

Auto-dimming mirror unit shipments to offshore customers decreased by approximately four percent in the first quarter of 2013 compared with the same quarter in 2012, primarily due to decreased mirror unit shipments to certain Asian and European automakers. Light vehicle production in Europe decreased by approximately eight percent in the first quarter of 2013, and decreased by approximately 13 percent in Japan and Korea in the first quarter of 2013, compared with the same quarter last year. The overall decline in light vehicle production in the regions of Japan and Korea, and Europe during the first quarter of 2013, compared in each case to the first quarter of 2012, also included higher percentage decreases in mid-size luxury class vehicle models, which currently are one of the primary markets for the Company's products.

Other net sales increased by approximately 30 percent to $6.5 million for the first quarter of 2013 compared with the same quarter last year, primarily due to an increase in dimmable aircraft window net sales. Fire protection net sales were flat quarter over quarter, and continue to be impacted by the relatively weak commercial construction market.

Share Repurchases The Company did not repurchase any shares in the first quarter of 2013, and four million shares remain authorized under the previously disclosed share repurchase plan ("the Plan"). Under the Plan, the Company may, from time to time, purchase additional shares of its common stock based on a number of factors, including market, economic and industry conditions; the market price of the Company's common stock; and other factors that the Company deems appropriate. The Plan does not have an expiration date, but is reviewed periodically by the Company's Board of Directors. Any repurchases will be funded with available cash.

Future Estimates The Company provided certain additional guidance for the second quarter of 2013.

For the second quarter of 2013, the Company estimates that net sales will be flat to down approximately five percent compared with the second quarter of 2012, based on IHS's April 2013 forecast for second quarter light vehicle production, which includes declines in the regions of Japan and Korea, and Europe, as well as the Company's 12-week customer order release schedule. Unstable macroeconomic factors continue to be a concern, particularly in Europe, as it remains the Company's largest shipping destination. Volatility in customer orders within the 12-week customer order release schedule, with some customers, including tier one mirror suppliers, revising orders, continues for the Company. Accurate forecasting in this environment remains very difficult.

Light vehicle production in North America in the second quarter of 2013 compared with the second quarter of 2012 is currently expected to increase by four percent, while production in the regions of Japan and Korea, and Europe are expected to decline by ten percent and three percent, respectively. The IHS forecast for second quarter 2013 production in the regions of Japan and Korea, and Europe again includes higher percentage decreases in mid-size luxury class vehicle models, which constitutes a primary market for the Company's products.

Based on the Company's expected net sales for the second quarter of 2013, the Company currently expects that its gross profit margin for the second quarter of 2013 will be in the same range as the gross profit margin of 34.7 percent reported in the first quarter of 2012 and 2013.

The Company currently expects Engineering, Research and Development expense to be down approximately 15 percent in the second quarter of 2013 compared with the second quarter last year, primarily due to reduced costs associated with outside contract engineering/development services. Additionally, Selling, General and Administrative expense is currently expected to be down approximately five to ten percent in the second quarter of 2013 compared with the second quarter of 2012, primarily due to reduced overseas office expenses. This forecast for Selling, General and Administrative expense in the second quarter of 2013 is based on stable foreign exchange rates.

The Company's forecasts for light vehicle production for each of the following periods in 2013 compared with the same periods in 2012 are based on IHS Automotive's April 2013 forecasts for light vehicle production in North America, Europe and Japan and Korea.

View data

----------------------------------------------------------------------------
Light Vehicle Production
(per IHS Automotive's April 2013 light vehicle production forecast)
----------------------------------------------------------------------------
Region Second Quarter of 2013 Second Quarter of 2012 % Change
----------------------------------------------------------------------------
North America 4.2 million vehicles 4.0 million vehicles +4%
----------------------------------------------------------------------------
Europe 4.8 million vehicles 5.0 million vehicles -3%
----------------------------------------------------------------------------
Japan and Korea 3.2 million vehicles 3.5 million vehicles -10%
----------------------------------------------------------------------------


----------------------------------------------------------------------------
Light Vehicle Production
(per IHS Automotive's April 2013 light vehicle production forecast)
----------------------------------------------------------------------------
Region Calendar Year 2013 Calendar Year 2012 % Change
----------------------------------------------------------------------------
North America 16.1 million vehicles 15.4 million vehicles +4%
----------------------------------------------------------------------------
Europe 18.7 million vehicles 19.3 million vehicles -3%
----------------------------------------------------------------------------
Japan and Korea 12.9 million vehicles 14.0 million vehicles -8%
----------------------------------------------------------------------------



---------------------------------------------------------------------------- Light Vehicle Production (per IHS Automotive's April 2013 light vehicle production forecast) ---------------------------------------------------------------------------- Region Second Quarter of 2013 Second Quarter of 2012 % Change ---------------------------------------------------------------------------- North America 4.2 million vehicles 4.0 million vehicles +4% ---------------------------------------------------------------------------- Europe 4.8 million vehicles 5.0 million vehicles -3% ---------------------------------------------------------------------------- Japan and Korea 3.2 million vehicles 3.5 million vehicles -10% ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Light Vehicle Production (per IHS Automotive's April 2013 light vehicle production forecast) ---------------------------------------------------------------------------- Region Calendar Year 2013 Calendar Year 2012 % Change ---------------------------------------------------------------------------- North America 16.1 million vehicles 15.4 million vehicles +4% ---------------------------------------------------------------------------- Europe 18.7 million vehicles 19.3 million vehicles -3% ---------------------------------------------------------------------------- Japan and Korea 12.9 million vehicles 14.0 million vehicles -8% ----------------------------------------------------------------------------

Safe Harbor for Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act, as amended, that are based on management's beliefs and information currently available to us, and are also based on assumptions and analyses made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. However, whether actual results and developments will conform to our current expectations, estimates and projections about the global automotive industry, the economy and the Company itself is subject to a number of risks, assumptions and uncertainties, many of which are beyond our control, and the affects can be difficult to predict. Words like "anticipates," "believes," "confident," "estimates," "expects," "forecasts," "hopes", "likely," "plans," "projects," "optimistic," and "should," and variations of such words and similar expressions identify forward-looking statements. These statements do not guarantee future performance and involve certain risks, uncertainties, and assumptions that are difficult to predict with regard to timing, expense, likelihood and degree of occurrence. These risks include, without limitation, the pace of economic activity in Europe, Asia and in the United States, employment and other general economic conditions; worldwide automotive production; the maintenance of the Company's market share; the ability to control costs, including the ability to achieve purchasing and manufacturing cost reductions, control and leverage fixed overhead costs, maintain margins; the ability to control E,R&D and S,G&A expenses. Additionally, these risks include competitive pricing pressures; the mix of products purchased by customers; the market for and the success of certain of the Company's mirror products (e.g. Rear Camera Display, SmartBeam(R) and other camera-based driver-assist and lighting-assist products), including vehicle model penetration and option take rates; changes in customers' marketing strategies; consumer confidence and the impact on production volume levels; intellectual property litigation risk; the ability to continue to make and sell product innovations; customer inventory management; scheduled production shutdowns at our customers' production facilities; currency fluctuations; interest rates; equity prices; the financial strength/stability of the Company's customers (including their Tier 1 suppliers); potential impact of supply chain disruptions including but not limited to those caused by natural disasters and any other part shortages; potential restructuring/sale of OEM business segments or suppliers; potential customer (including their Tier 1 suppliers) bankruptcies; and other risks identified in the Company's other filings with the Securities and Exchange Commission. Therefore, actual results and outcomes may materially differ from what is expressed or forecasted. Furthermore, the Company undertakes no obligation to update, amend, or clarify forward-looking statements, whether as a result of new information, future events, or otherwise.

First Quarter Conference Call

A conference call related to this news release will be simulcast live on the Internet beginning at 10:30 a.m. EST today. To access that call, go to Gentex and select the "Audio Webcast" icon on the right side of the page. Other conference calls hosted by the Company will also be available at that site in the future.

About the Company

Founded in 1974, Gentex Corporation (NASDAQ: GNTX) is the leading supplier of automatic-dimming rearview mirrors and camera-based lighting- and driver-assist systems to the global automotive industry. The Company also provides commercial smoke alarms and signaling devices to the North American fire protection market, as well as dimmable aircraft windows for the commercial, business and general aviation markets. Based in Zeeland, Michigan, the international Company develops, manufactures and markets interior and exterior automatic-dimming automotive rearview mirrors that utilize proprietary electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. More than half of the Company's interior mirrors are sold with advanced electronic features, and more than 98 percent of the Company's net sales are derived from the sale of auto-dimming mirrors to every major automaker in the world. Visit the Company's web site at www.gentex.com.

View data

GENTEX CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(unaudited)
Three Months Ended
March 31,
2013 2012
------------- -------------

Net Sales $ 269,498,969 $ 290,706,762
Cost of Goods Sold 176,035,466 189,880,269
------------- -------------
Gross Profit 93,463,503 100,826,493

Engineering, Research & Development 18,683,576 23,215,134
Selling, General & Administrative 10,926,288 12,110,396
------------- -------------
Income from Operations 63,853,639 65,500,963

Other Income (1,900,273) (3,286,360)
------------- -------------


Income Before Income Taxes 65,753,912 68,787,323

Provision for Income Taxes 20,323,345 22,442,739
------------- -------------

Net Income $ 45,430,567 $ 46,344,584
============= =============


Earnings Per Share
Basic $ 0.32 $ 0.32
Diluted $ 0.32 $ 0.32
Weighted Average Shares:
Basic 142,534,655 143,502,772
Diluted 143,075,465 144,988,001

Cash Dividends Declared per Share $ 0.14 $ 0.13



CONDENSED CONSOLIDATED BALANCE SHEETS


(unaudited)
March 31, Dec 31,
2013 2012
-------------- --------------
ASSETS
Cash and Short-Term Investments $ 518,504,952 $ 450,481,520
Other Current Assets 276,752,523 294,181,520
-------------- --------------

Total Current Assets 795,257,475 744,663,040

Plant and Equipment - Net 348,055,549 349,938,172
Long-Term Investments and Other Assets 186,819,252 171,090,123
-------------- --------------

Total Assets $1,330,132,276 $1,265,691,335
============== ==============


LIABILITIES AND SHAREHOLDERS' INVESTMENT
Current Liabilities $ 109,655,312 $ 87,957,442
Long-Term Debt 0 0
Deferred Income Taxes 58,029,136 56,773,337
Shareholders' Investment 1,162,447,828 1,120,960,556
-------------- --------------

Total Liabilities & Shareholders' Investment $1,330,132,276 $1,265,691,335
============== ==============


-------------------------------------------------------
AUTO-DIMMING MIRROR UNIT SHIPMENTS
(Thousands)
-------------------------------------------------------
First Quarter
Ended March 31,
-------------------------------------------------------
2013 2012 % Change
-------------------------------------------------------
Domestic Interior 2,032 1,921 6%
-------------------------------------------------------
Domestic Exterior 510 423 21%
-------------------------------------------------------
Total Domestic Units 2,542 2,344 8%
-------------------------------------------------------

-------------------------------------------------------
Foreign Interior 2,645 2,814 -6%
-------------------------------------------------------
Foreign Exterior 1,117 1,101 2%
-------------------------------------------------------
Total Foreign Units 3,762 3,915 -4%
-------------------------------------------------------

-------------------------------------------------------
Total Interior Mirrors 4,677 4,735 -1%
-------------------------------------------------------
Total Exterior Mirrors 1,627 1,524 7%
-------------------------------------------------------
Total Mirror Units 6,304 6,259 1%
-------------------------------------------------------



GENTEX CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) Three Months Ended March 31, 2013 2012 ------------- ------------- Net Sales $ 269,498,969 $ 290,706,762 Cost of Goods Sold 176,035,466 189,880,269 ------------- ------------- Gross Profit 93,463,503 100,826,493 Engineering, Research & Development 18,683,576 23,215,134 Selling, General & Administrative 10,926,288 12,110,396 ------------- ------------- Income from Operations 63,853,639 65,500,963 Other Income (1,900,273) (3,286,360) ------------- ------------- Income Before Income Taxes 65,753,912 68,787,323 Provision for Income Taxes 20,323,345 22,442,739 ------------- ------------- Net Income $ 45,430,567 $ 46,344,584 ============= ============= Earnings Per Share Basic $ 0.32 $ 0.32 Diluted $ 0.32 $ 0.32 Weighted Average Shares: Basic 142,534,655 143,502,772 Diluted 143,075,465 144,988,001 Cash Dividends Declared per Share $ 0.14 $ 0.13 CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) March 31, Dec 31, 2013 2012 -------------- -------------- ASSETS Cash and Short-Term Investments $ 518,504,952 $ 450,481,520 Other Current Assets 276,752,523 294,181,520 -------------- -------------- Total Current Assets 795,257,475 744,663,040 Plant and Equipment - Net 348,055,549 349,938,172 Long-Term Investments and Other Assets 186,819,252 171,090,123 -------------- -------------- Total Assets $1,330,132,276 $1,265,691,335 ============== ============== LIABILITIES AND SHAREHOLDERS' INVESTMENT Current Liabilities $ 109,655,312 $ 87,957,442 Long-Term Debt 0 0 Deferred Income Taxes 58,029,136 56,773,337 Shareholders' Investment 1,162,447,828 1,120,960,556 -------------- -------------- Total Liabilities & Shareholders' Investment $1,330,132,276 $1,265,691,335 ============== ============== ------------------------------------------------------- AUTO-DIMMING MIRROR UNIT SHIPMENTS (Thousands) ------------------------------------------------------- First Quarter Ended March 31, ------------------------------------------------------- 2013 2012 % Change ------------------------------------------------------- Domestic Interior 2,032 1,921 6% ------------------------------------------------------- Domestic Exterior 510 423 21% ------------------------------------------------------- Total Domestic Units 2,542 2,344 8% ------------------------------------------------------- ------------------------------------------------------- Foreign Interior 2,645 2,814 -6% ------------------------------------------------------- Foreign Exterior 1,117 1,101 2% ------------------------------------------------------- Total Foreign Units 3,762 3,915 -4% ------------------------------------------------------- ------------------------------------------------------- Total Interior Mirrors 4,677 4,735 -1% ------------------------------------------------------- Total Exterior Mirrors 1,627 1,524 7% ------------------------------------------------------- Total Mirror Units 6,304 6,259 1% -------------------------------------------------------

Note: Certain prior-period amounts have been reclassified to conform with the current presentation. Percent change and unit shipment amounts may not total due to rounding.

CONTACT:
Connie Hamblin
(616) 772-1800


SOURCE: Gentex Corporation

Gentex Announces 1st Quarter 2013 Financial Results Conference CallWebcast

Apr 23, 2013 06:02:28 (ET)


ZEELAND, MI, Apr 23, 2013 (Marketwired via COMTEX) -- Gentex Corporation announces the following webcast:

What: First Quarter 2013 Financial Results Conference Call

When: Today, April 23, 2013, at 10:30 a.m. EDT

Where: http://www.gentex.com

How: Live over the Internet -- Log on to the web at the address above

If you are unable to participate during the live webcast, the call will be archived at http://ir.gentex.com/WebcastArchives .

Founded in 1974, Gentex Corporation is the leading supplier of automatic-dimming rearview mirrors and camera-based lighting-assist and driver-assist systems to the global automotive industry. The Company also provides commercial smoke alarms and signaling devices to the North American fire protection market, as well as dimmable aircraft windows for the commercial, business and general aviation markets. Based in Zeeland, Michigan, the international Company develops, manufactures and markets interior and exterior automatic-dimming automotive rearview mirrors that utilize proprietary electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. More than half of the Company's interior mirrors are sold with advanced electronic features, and more than 98 percent of the Company's net sales are derived from the sale of auto-dimming mirrors to nearly every major automaker in the world.


Contact:
Lisa Richlich
Investor Relations
616-772-1590, ext. 4207
Fax: 616-772-7348
Email: Email Contact




SOURCE: Gentex Corporation


http://www2.marketwire.com/mw/emailprcntct?id=BBB5FF86DE8C1CF9

Three words for you...

BACKUP CAMERA RULE

Declining GNTX Margins vs Increasing Auto Sales Worrying

Now the Mötley Fool says it looks OK due to quarter over quarter analysis, but the year over year declining margins shown in the charts (see reference 1) is worrisome when you put it in context with the increasing auto sales. Ignoring the big recession dip, all of GNTX's margins have been declining since 2010 while at the same time the driver of that revenue, car sales, have increased substantially (see reference 2).

To me this points at the problem being fixed costs that can't be mitigated, underutilized or excess capacity? I know they have been, and still are, trading in knowledgeable but expensive employees for inexperienced but cheap ones, that doesn't seem to be enough. This will start to erode cash hoard along with the dividend increase that was designed to appease the shareholders. Will this turn around? If it does can they answer the bell with the inexperienced crew?

Does this concern anyone else? It concerned me enough to trim 1/3 of my position to lock in profits at $20.25.

GNTX Margins: See the 2/20/2013 "are you watching this trend" from fool DOT com.

Auto Sales 2010 - 2012: See ycharts DOT com, indicators, auto_sales.

Gentex Announces Eight Percent Increase in Quarterly Cash DividendRate for 2.7 Percent Yield

Feb 19, 2013 16:22:32 (ET)


ZEELAND, MI, Feb 19, 2013 (MARKETWIRE via COMTEX) -- Gentex Corporation , the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and camera-based lighting-assist and driver-assist systems for the automotive industry, commercial fire protection products and dimmable aircraft windows, today announced that its Board Of Directors approved an eight percent increase in its quarterly cash dividend rate from $0.13 (13 cents) to $0.14 (14 cents) per share. The Board subsequently declared a quarterly cash dividend of $0.14 per share that will be payable April 19, 2013, to shareholders of record of the common stock at the close of business on April 5, 2013. The dividend yield will be approximately 2.7 percent.

"Despite the continued volatile global macroeconomic environment, and particularly in Europe, our largest shipping destination, and in light of the continuing benefit of reduced double taxation of dividends, our Board believes that the dividend is important to investors," said Gentex Chairman of the Board and Chief Executive Officer Fred Bauer. "We have a history of paying out a significant portion of our earnings in dividends -- approximately 50 percent -- and have cumulatively paid out approximately $525 million in cash dividends since more favorable tax treatment was implemented in 2003.

"We continue to believe that an investor-friendly dividend rate should be meaningful, sustainable and increase over time, at a rate generally in line with the Company's net income and operating cash flow," said Bauer.

The quarterly cash dividend program was implemented based on establishment of The Jobs and Growth Tax Relief Reconciliation Act of 2003, which significantly reduced the federal income tax rate for shareholders who receive corporate cash dividends, making the declaration of a dividend a more tax-efficient means of returning value to shareholders.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act, as amended, that are based on management's beliefs and information currently available to us, and are also based on assumptions and analyses made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. However, whether actual results and developments will conform to our current expectations, estimates and projections about the global automotive industry, the economy and the Company itself is subject to a number of risks, assumptions and uncertainties, many of which are beyond our control, and the affects can be difficult to predict. Words like "anticipates," "believes," "confident," "estimates," "expects," "forecasts," "hopes," "likely," "plans," "projects," "optimistic," and "should," and variations of such words and similar expressions identify forward-looking statements. These statements do not guarantee future performance and involve certain risks, uncertainties, and assumptions that are difficult to predict with regard to timing, expense, likelihood and degree of occurrence. These risks include, without limitation, the pace of economic activity in Europe, Asia and in the United States, employment and other general economic conditions; worldwide automotive production; the maintenance of the Company's market share; the ability to control costs, including the ability to achieve purchasing and manufacturing cost reductions, control and leverage fixed overhead costs, maintain margins; the ability to control E,R&D and S,G&A expenses. Additionally, these risks include competitive pricing pressures; the mix of products purchased by customers; the market for and the success of certain of the Company's mirror products (e.g. Rear Camera Display, SmartBeam(R) and other camera-based driver-assist and lighting-assist products), including vehicle model penetration and option take rates; changes in customers' marketing strategies; consumer confidence and the impact on production volume levels; intellectual property litigation risk; the ability to continue to make and sell product innovations; customer inventory management; scheduled production shutdowns at our customers' production facilities; currency fluctuations; interest rates; equity prices; the financial strength/stability of the Company's customers (including their Tier 1 suppliers); potential impact of supply chain disruptions including but not limited to those caused by natural disasters and any other part shortages; potential restructuring/sale of OEM business segments or suppliers; potential customer (including their Tier 1 suppliers) bankruptcies; and other risks identified in the Company's other filings with the Securities and Exchange Commission. Therefore, actual results and outcomes may materially differ from what is expressed or forecasted. Furthermore, the Company undertakes no obligation to update, amend, or clarify forward-looking statements, whether as a result of new information, future events, or otherwise.

About the Company

Founded in 1974, Gentex Corporation (the nasdaq global select market:GNTX) is the leading supplier of automatic-dimming rearview mirrors and camera-based lighting-assist and driver-assist systems to the global automotive industry. The Company also provides commercial smoke alarms and signaling devices to the North American fire protection market, as well as dimmable aircraft windows for the commercial, business and general aviation markets. Based in Zeeland, Michigan, the international Company develops, manufactures and markets interior and exterior automatic-dimming automotive rearview mirrors that utilize proprietary electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. More than half of the Company's interior mirrors are sold with advanced electronic features, and more than 98 percent of the Company's net sales are derived from the sale of auto-dimming mirrors to every major automaker in the world. Visit the Company's web site at www.gentex.com .


CONTACT:
Connie Hamblin
616/772-1800
WEBSITE:
www.gentex.com





SOURCE: Gentex Corporation


http://www.gentex.com/

Gentex beats by $0.02, reports revs in-line; guides Q1 revs below consensus

8:06 AM ET 1/29/13 | Briefing.com

Reports Q4 (Dec) earnings of $0.28 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.26; revenues were unchanged from the year-ago period at $260.3 mln. Co issues downside guidance for Q1, sees Q1 revs down 5-10%, which calculates to ~$234.3-247.3 mln vs. $277.28 mln Capital IQ Consensus Estimate.

Co believs that net sales will decline by ~5-10% compared with the first quarter of 2012, based on IHS's January 2013 forecast for light vehicle production levels, as well as the Co's 12-week customer order release schedule.

Gentex Reports Fourth Quarter Financial Results

8:00 AM ET 1/29/13 | Marketwire

Gentex Corporation (NASDAQ: GNTX), the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and camera-based lighting and driver-assist systems for the automotive industry, commercial fire protection products and dimmable aircraft windows, today reported financial results for the fourth quarter and calendar year ended December 31, 2012.

For the fourth quarter of 2012, the Company's net sales were flat at $260.3 million compared with the fourth quarter of 2011. For calendar year 2012, the Company's net sales increased by seven percent to $1.1 billion compared with $1.0 billion for calendar year 2011.

The gross profit margin increased on a sequential basis to 34.2 percent in the fourth quarter of 2012 compared with 33.6 percent in the third quarter of 2012, primarily due to production efficiencies, partially offset by the Company's inability to leverage fixed overhead expenses on lower sequential quarterly net sales. The gross margin decreased on a quarter-over-quarter basis from 34.7 percent in the fourth quarter of 2011 to 34.2 percent in the fourth quarter of 2012, primarily due to the impact of annual customer price reductions and product mix, partially offset by purchasing cost reductions.

The gross margin declined from 35.3 percent in calendar year 2011 to 33.9 percent in calendar year 2012, primarily due to annual customer price reductions and product mix, partially offset by purchasing cost reductions.

Net income of $39.6 million for the fourth quarter of 2012 decreased by approximately two percent compared with net income of $40.5 million in the fourth quarter of 2011. Net income in calendar year 2012 increased by two percent to $168.6 million, compared with $164.7 million in calendar year 2011. Net income for both the fourth quarter and calendar year 2012 includes a $5 million (pre-tax) litigation settlement with American Vehicular Sciences (AVS), which is discussed below.

Earnings per diluted share were flat at 28 cents in the fourth quarter of 2012 compared with the fourth quarter of 2011. Earnings per diluted share were $1.17 for calendar year 2012 compared with $1.14 in calendar year 2011. Earnings per share for the quarter and calendar year ended December 31, 2012, include the litigation settlement with AVS.

"We are quite pleased to report that our gross profit margin improved sequentially in the fourth quarter of 2012, despite a sequential decrease in net sales," said Gentex Chairman of the Board and Chief Executive Officer Fred Bauer. "We are also demonstrating continued positive efficiencies we are experiencing within our operating expenses. Our entire management team has been actively working on cost-reduction initiatives and we are pleased with the results to date."

AVS Litigation Settlement

As previously disclosed, on June 25, 2012, American Vehicular Sciences LLC ("AVS") filed four patent infringement complaints in the United States District Court in the Eastern District of Texas, which named the Company and one of two of its customers as co-defendants. In two of the complaints (#6:12-cv-00413 and #6:12-cv-00406), AVS alleged that the Company's SmartBeam product infringed one patent owned by AVS. In the other two complaints (#6:12-cv-00410 and #6:12-cv-00415), AVS alleged that the Company's monitoring system products infringe two other patents owned by AVS. The Company was served with the four complaints on July 27, 2012. On October 5, 2012, the Company submitted its answers to all four complaints. On December 28, 2012, in the ordinary course of business, the Company entered into a settlement/license agreement ("agreement") with AVS, settling all pending litigation. The cost associated with the agreement was accrued by the Company and reflected in its financial results as of December 31, 2012. As a result of the agreement, the United States District Court in the Eastern District of Texas has ordered that the Company is dismissed with prejudice in the complaints filed by AVS.

Technology/Product Update

In the fourth quarter of 2012, the Company successfully began shipping a number of auto-dimming mirror production applications with several automakers with advanced technologies including SmartBeam(R), driver assist, Rear Camera Display (RCD), telematics, wireless control systems, compass, and various combinations of these features.

Unit shipments of SmartBeam and driver assist camera products increased by approximately 12 percent in calendar year 2012 compared with calendar year 2011, in the face of challenging European market conditions which had a negative impact on product mix and option take rates. In calendar year 2013, SmartBeam and driver assist unit shipments are estimated to increase by approximately 10-15 percent compared with calendar year 2012, based on the IHS January 2013 forecast for light vehicle production, which includes a three percent decline in European light vehicle production with larger forecasted percentage decreases in the mid-size luxury class vehicle model market, which currently is one of the Company's primary markets for these features.

RCD Mirror unit shipments decreased by approximately eight percent in calendar year 2012 compared with calendar year 2011. In calendar year 2013, RCD Mirror unit shipments are estimated to decrease by approximately 25-35 percent compared with calendar year 2012, which includes estimated reduced RCD Mirror unit shipments to automotive customers who have previously notified the Company of their plans to have the display for the rear camera in the radio instead of the rearview mirror. While the Company continues production launches of RCD Mirrors on new vehicle models in 2013, volatility in customer orders continues for this feature in the face of delayed rulemaking under the Kids Transportation Safety Act (KTSA), which did not meet the scheduled December 31, 2012, deadline for implementation, making this the fourth such delay for KTSA rulemaking.

All other mirror products and technologies continue to result in new awarded business. In development and launch now are: interior auto-dimming mirrors with new frameless designs; lighting applications with new optoelectronics; new digital microphones; many different displays in new sizes with faster processing and increased graphics capabilities; new wireless control systems that send and receive signals from garage doors, gates, lights, locks, and security systems; SmartBeam with advanced detection for tunnels, curves, fog, and for use on all headlamp technologies, including halogen, Xenon, and LED; driver-assist systems with new object-detection capabilities; and exterior auto-dimming mirrors with new curved glass applications.

SmartBeam is the Company's high beam headlamp assist product that optimizes forward visibility by automating high beam usage, which allows drivers to better identify and react to potential hazards in the road ahead. Driver assist camera products utilize a multi-function camera combined with algorithmic decision making to perform certain tasks, such as automatic high beam assist, lane keeping and driver alert. RCD Mirrors contains a liquid crystal display (LCD) that works with an automaker-specified video camera mounted at the rear of the vehicle to provide a view directly behind the vehicle while backing up.

Unit Shipments and Net Sales

Total auto-dimming mirror unit shipments increased by approximately five percent in the fourth quarter of 2012 compared with the fourth quarter last year. Automotive net sales declined slightly to $254.6 million in the fourth quarter of 2012 compared with $254.7 million in the fourth quarter of 2011.

Auto-dimming mirror unit shipments increased by approximately 17 percent in North America in the fourth quarter of 2012 compared with the fourth quarter of 2011, primarily as a result of increased mirror unit shipments to certain domestic and Japanese transplant automakers. North American light vehicle production increased by approximately ten percent in the fourth quarter of 2012 compared with the same prior-year quarter.

Auto-dimming mirror unit shipments to offshore automakers decreased by approximately two percent in the fourth quarter of 2012 compared with the same quarter last year, primarily due to decreased mirror unit shipments to certain European and Japanese automakers. Light vehicle production in Europe decreased by approximately seven percent in the fourth quarter of 2012, and decreased by approximately nine percent in Japan and Korea in the fourth quarter of 2012, each compared with the same quarter in the prior year.

Total auto-dimming mirror unit shipments increased by 11 percent in calendar year 2012 compared with calendar year 2011. Automotive net sales increased by 7 percent to $1.1 billion in calendar year 2012 compared with $1.0 billion in calendar year 2011.

Auto-dimming mirror unit shipments increased by approximately 22 percent in North America in calendar year 2012 compared with calendar year 2011, primarily as a result of increased mirror unit shipments to certain Japanese transplant and domestic automakers. North American light vehicle production increased by approximately 17 percent in calendar year 2012 compared with calendar year 2011.

Auto-dimming mirror unit shipments to offshore customers increased by approximately five percent in calendar year 2012 compared with calendar year 2011, primarily due to increased mirror unit shipments to certain European and Japanese automakers. Light vehicle production in Europe decreased by approximately five percent in calendar year 2012, and increased by approximately 12 percent in Japan and Korea in calendar year 2012, each compared with calendar year 2011.

Other net sales increased by approximately three percent to $5.8 million for the fourth quarter of 2012 compared with the same quarter last year, primarily due to increased dimmable aircraft window net sales, partially offset by decreased fire protection net sales. Other net sales increased by 10 percent to $22.6 million for calendar year 2012 compared with calendar year 2011, primarily due to increased dimmable aircraft window net sales, partially offset by decreased fire protection net sales. Fire protection net sales continue to be impacted by the relatively weak commercial construction market.

Share Repurchases

The Company did not repurchase any shares in the fourth quarter of 2012, and four million shares remain authorized under the previously disclosed share repurchase plan ("the Plan"). Under the Plan, the Company may, from time to time, purchase additional shares of its common stock based on a number of factors, including market, economic and industry conditions; the market price of the Company's common stock, and other factors that the Company deems appropriate. The Plan does not have an expiration date, but is reviewed periodically by the Company's Board of Directors. Any repurchases will be funded with available cash.

"With the uncertainty created by the fiscal cliff negotiations coupled with the European sovereign debt crisis, the Company continues to be cautious," said Gentex Chairman of the Board and Chief Executive Officer Fred Bauer.

Future Estimates

The Company provided certain additional guidance for the first quarter of 2013.

For the first quarter of 2013, the Company estimates that net sales will decline by approximately five to ten percent compared with the first quarter of 2012, based on IHS's January 2013 forecast for light vehicle production levels, as well as the Company's 12-week customer order release schedule.

The Company said that unstable macroeconomic factors continue to be a concern, and especially the sovereign debt crisis in Europe, as it is the Company's largest shipping destination. The Company also continues to experience significant volatility in customer orders within the 12-week customer release schedule, and indicated that accurate forecasting remains very difficult in this environment.

Light vehicle production in the first quarter of 2013 is expected to decline by 13 percent in Japan and Korea, by ten percent in Europe and by two percent in North America, according to the IHS January 2013 forecast for light vehicle production. Additionally, while overall European light vehicle production is expected to decline by ten percent in the first quarter of 2013, the IHS forecast also includes higher percentage decreases in mid-size luxury class vehicle models, which currently are one of the primary markets for the Company's products.

Based on the Company's expected net sales for the first quarter of 2013, the Company currently expects that its gross profit margin for the first quarter of 2013 will be slightly down sequentially compared with the gross profit margin of 34.2 percent reported in the fourth quarter of 2012, primarily due to annual customer price reductions.

The Company currently expects Engineering, Research and Development expense to be down approximately ten percent in the first quarter of 2013 compared with the first quarter last year, primarily due to reduced costs associated with outside contract engineering/development services. Additionally, Selling, General and Administrative expense is currently expected to be approximately flat in the first quarter of 2013 compared with the first quarter of 2012, which is based on stable foreign exchange rates.

The Company's current forecasts for light vehicle production for each of the following periods in 2013 compared with the same periods in 2012 are based on IHS Automotive's January 2013 forecast for light vehicle production in North America, Europe and Japan and Korea. As indicated below, light vehicle production in Japan and Korea, Europe and North America is expected to decline in the first quarter of 2013 compared with the first quarter of 2012. Production in the North American region is expected to increase in calendar year 2013 compared with calendar year 2012, but Europe and Japan and Korea are expected to decrease in that same year-over-year period.

View data
---------------------------------------------------------------------------- Light Vehicle Production (per IHS Automotive's January 2013 light vehicle production forecast) ---------------------------------------------------------------------------- Region First Quarter of 2013 First Quarter of 2012 % Change ---------------------------------------------------------------------------- North America 3.9 million vehicles 4.0 million vehicles -2% ---------------------------------------------------------------------------- Europe 4.7 million vehicles 5.2 million vehicles -10% ---------------------------------------------------------------------------- Japan and Korea 3.3 million vehicles 3.8 million vehicles -13% ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Light Vehicle Production (per IHS Automotive's January 2013 light vehicle production forecast) ---------------------------------------------------------------------------- Region Calendar Year 2013 Calendar Year 2012 % Change ---------------------------------------------------------------------------- North America 15.9 million vehicles 15.4 million vehicles +3% ---------------------------------------------------------------------------- Europe 18.6 million vehicles 19.2 million vehicles -3% ---------------------------------------------------------------------------- Japan and Korea 12.7 million vehicles 14.0 million vehicles -9% ----------------------------------------------------------------------------

Safe Harbor for Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act, as amended, that are based on management's beliefs and information currently available to us, and are also based on assumptions and analyses made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. However, whether actual results and developments will conform to our current expectations, estimates and projections about the global automotive industry, the economy and the Company itself is subject to a number of risks, assumptions and uncertainties, many of which are beyond our control, and the affects can be difficult to predict. Words like "anticipates," "believes," "confident," "estimates," "expects," "forecasts," "hopes", "likely," "plans," "projects," "optimistic," and "should," and variations of such words and similar expressions identify forward-looking statements. These statements do not guarantee future performance and involve certain risks, uncertainties, and assumptions that are difficult to predict with regard to timing, expense, likelihood and degree of occurrence. These risks include, without limitation, the pace of economic activity in Europe, Asia and in the United States, employment and other general economic conditions; worldwide automotive production; the maintenance of the Company's market share; the ability to control costs, including the ability to achieve purchasing and manufacturing cost reductions, control and leverage fixed overhead costs, maintain margins; the ability to control E,R&D and S,G&A expenses. Additionally, these risks include competitive pricing pressures; the mix of products purchased by customers; the market for and the success of certain of the Company's mirror products (e.g. Rear Camera Display, SmartBeam(R) and other camera-based driver-assist and lighting-assist products), including vehicle model penetration and option take rates; changes in customers' marketing strategies; consumer confidence and the impact on production volume levels; intellectual property litigation risk; the ability to continue to make and sell product innovations; customer inventory management; scheduled production shutdowns at our customers' production facilities; currency fluctuations; interest rates; equity prices; the financial strength/stability of the Company's customers (including their Tier 1 suppliers); potential impact of supply chain disruptions including but not limited to those caused by natural disasters and any other part shortages; potential restructuring/sale of OEM business segments or suppliers; potential customer (including their Tier 1 suppliers) bankruptcies; and other risks identified in the Company's other filings with the Securities and Exchange Commission. Therefore, actual results and outcomes may materially differ from what is expressed or forecasted. Furthermore, the Company undertakes no obligation to update, amend, or clarify forward-looking statements, whether as a result of new information, future events, or otherwise.

Fourth Quarter Conference Call

A conference call related to this news release will be simulcast live on the Internet beginning at 10:00 a.m. EST today. To access that call, go to www.gentex.com and select the "Audio Webcast" icon on the right side of the page. Other conference calls hosted by the Company will also be available at that site in the future.

About the Company

Founded in 1974, Gentex Corporation (NASDAQ: GNTX) is the leading supplier of automatic-dimming rearview mirrors and camera-based lighting- and driver-assist systems to the global automotive industry. The Company also provides commercial smoke alarms and signaling devices to the North American fire protection market, as well as dimmable aircraft windows for the commercial, business and general aviation markets. Based in Zeeland, Michigan, the international Company develops, manufactures and markets interior and exterior automatic-dimming automotive rearview mirrors that utilize proprietary electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. More than half of the Company's interior mirrors are sold with advanced electronic features, and more than 98 percent of the Company's net sales are derived from the sale of auto-dimming mirrors to every major automaker in the world. Visit the Company's web site at www.gentex.com.

View data
GENTEX CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME Three Months Ended Year Ended December 31, December 31, 2012 2011 2012 2011 ------------ ------------ -------------- -------------- Net Sales $260,349,122 $260,346,644 $1,099,559,521 $1,023,762,049 Cost of Goods Sold 171,230,430 169,992,934 726,740,962 662,181,714 ------------ ------------ -------------- -------------- Gross Profit 89,118,692 90,353,710 372,818,559 361,580,335 Engineering, Research & Development 18,561,953 21,805,103 85,003,602 81,634,158 Selling, General & Administrative 11,738,057 12,765,228 48,359,725 48,578,252 Litgation Settlement 5,000,000 0 5,000,000 0 ------------ ------------ -------------- -------------- Income from Operations 53,818,682 55,783,379 234,455,232 231,367,925 Other Income (4,653,819) (2,946,486) (15,170,368) (13,063,886) ------------ ------------ -------------- -------------- Income Before Income Taxes 58,472,501 58,729,865 249,625,600 244,431,811 Provision for Income Taxes 18,873,867 18,263,752 81,038,760 79,763,583 ------------ ------------ -------------- -------------- Net Income $ 39,598,634 $ 40,466,113 $ 168,586,840 $ 164,668,228 ============ ============ ============== ============== Earnings Per Share Basic $ 0.28 $ 0.28 $ 1.18 $ 1.16 Diluted $ 0.28 $ 0.28 $ 1.17 $ 1.14 Weighted Average Shares: Basic 142,151,791 143,132,866 143,097,530 142,492,699 Diluted 142,588,023 144,806,230 143,968,031 144,276,808 Cash Dividends Declared per Share $ 0.13 $ 0.12 $ 0.52 $ 0.48 CONDENSED CONSOLIDATED BALANCE SHEETS Dec 31, Dec 31, 2012 2011 --------------- --------------- ASSETS Cash and Short-Term Investments $ 450,481,520 $ 418,795,011 Other Current Assets 294,181,520 333,497,973 --------------- --------------- Total Current Assets 744,663,040 752,292,984 Plant and Equipment - Net 349,938,172 282,541,588 Long-Term Investments and Other Assets 171,090,123 141,192,430 --------------- --------------- Total Assets $ 1,265,691,335 $ 1,176,027,002 =============== =============== LIABILITIES AND SHAREHOLDERS' INVESTMENT Current Liabilities $ 87,957,442 $ 100,694,500 Long-Term Debt 0 0 Deferred Income Taxes 56,773,337 48,213,981 Shareholders' Investment 1,120,960,556 1,027,118,521 --------------- --------------- Total Liabilities & Shareholders' Investment $ 1,265,691,335 $ 1,176,027,002 =============== =============== ---------------------------------------------------------------------------- AUTO-DIMMING MIRROR UNIT SHIPMENTS (Thousands) ---------------------------------------------------------------------------- Fourth Quarter Calendar Year Ended December Ended December 31, 31, ---------------------------------------------------------------------------- 2012 2011 % Change 2012 2011 % Change ---------------------------------------------------------------------------- North American Interior 1,928 1,651 17% 7,726 6,232 24% ---------------------------------------------------------------------------- North American Exterior 444 370 20% 1,736 1,514 15% ---------------------------------------------------------------------------- Total North American Units 2,372 2,021 17% 9,462 7,746 22% ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Offshore Interior 2,414 2,484 -3% 10,355 9,957 4% ---------------------------------------------------------------------------- Offshore Exterior 919 904 2% 4,015 3,774 6% ---------------------------------------------------------------------------- Total Offshore Units 3,333 3,388 -2% 14,370 13,731 5% ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Total Interior Mirrors 4,342 4,135 5% 18,081 16,189 12% ---------------------------------------------------------------------------- Total Exterior Mirrors 1,363 1,274 7% 5,751 5,288 9% ---------------------------------------------------------------------------- Total Mirror Units 5,705 5,409 5% 23,832 21,477 11% ----------------------------------------------------------------------------

Note: Certain prior-period amounts have been reclassified to conform with the current presentation. Percent change and unit shipment amounts may not total due to rounding.

CONTACT:
Connie Hamblin
(616) 772-1800



SOURCE: Gentex Corporation

Update: Gentex Corporation Announces Webcast of Fourth Quarter and Year-End 2012 Financial Results Conference Call

10:36 AM ET 1/24/13 | Marketwire

Gentex Corporation (NASDAQ: GNTX) announces the following webcast:

What: Fourth Quarter and Year-End 2012 Financial Results Conference Call

When: Tuesday, January 29, 2013 at 10:00 a.m. EST

Where: http://www.gentex.com

How: Live over the Internet -- Log on to the web at the address above

If you are unable to participate during the live webcast, the call will be archived at http://ir.gentex.com/WebcastArchives.

Founded in 1974, Gentex Corporation (NASDAQ: GNTX) is the leading supplier of automatic-dimming rearview mirrors and camera-based lighting-assist and driver-assist systems to the global automotive industry. The Company also provides commercial smoke alarms and signaling devices to the North American fire protection market, as well as dimmable aircraft windows for the commercial, business and general aviation markets. Based in Zeeland, Michigan, the international Company develops, manufactures and markets interior and exterior automatic-dimming automotive rearview mirrors that utilize proprietary electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. More than half of the Company's interior mirrors are sold with advanced electronic features, and more than 98 percent of the Company's net sales are derived from the sale of auto-dimming mirrors to nearly every major automaker in the world.

Contact:
Lisa Richlich
Investor Relations
616-772-1590, ext. 4207
Fax: 616-772-7348
Email: Email Contact


SOURCE: Gentex Corporation

http://www2.marketwire.com/mw/emailprcntct?id=B06727D3E18FBD69

Gentex beats by $0.01, misses on revs; guides Q4 revs below consensus; authorized an additional 4 mln shares for repurchase under the existing share repurchase plan

8:12 AM ET 10/23/12 | Briefing.com

Reports Q3 (Sep) earnings of $0.29 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.28; revenues fell 0.5% year/year to $268.2 mln vs the $277.63 mln consensus. Co issues downside guidance for Q4, sees Q4 revs of ~flat YoY calc to ~ $260.35 vs. $273.03 mln Capital IQ Consensus Estimate. The gross profit margin increased on a sequential basis to 33.6 percent in the third quarter of 2012 compared with 33.1 percent in the second quarter of 2012, primarily due to purchasing cost reductions.

The Company also announced that the Board of Directors has authorized an additional four million shares for repurchase under the existing share repurchase plan.

Outlook: "As previously mentioned, we are concerned about the deteriorating macroeconomic environment, particularly in Europe, which is our largest shipping destination..We continue to experience increasing volatility in customer orders within the 12-week customer release window, with some of our customers, including the tier one mirror suppliers, reducing orders. This is making it increasingly more difficult to forecast with any degree of certainty," said Dykman. Based on the Company's expected net sales for the fourth quarter of 2012, Dykman said that the Company currently expects that its gross profit margin for the fourth quarter of 2012 will be down slightly sequentially compared with the gross profit margin of 33.6 percent reported in the third quarter of 2012."

Gentex Corporation Announces Webcast of Third Quarter 2012 FinancialResults Conference Call
Oct 11, 2012 08:11:39 (ET)


ZEELAND, MI, Oct 11, 2012 (MARKETWIRE via COMTEX) -- Gentex Corporation (GNTX, Trade ) announces the following webcast:

What: Third Quarter 2012 Financial Results Conference Call

When: Tuesday, October 23, 2012, at 10:30 a.m. EDT

Where: http://www.gentex.com

How:

Live over the Internet -- Log on to the web at the address above

If you are unable to participate during the live webcast, the call will be archived at http://www.gentex.com . To access the replay, click on Investor Information Audio Archives.

Founded in 1974, Gentex Corporation is the leading supplier of automatic-dimming rearview mirrors and camera-based lighting-assist and driver-assist systems to the global automotive industry. The Company also provides commercial smoke alarms and signaling devices to the North American fire protection market, as well as dimmable aircraft windows for the commercial, business and general aviation markets. Based in Zeeland, Michigan, the international Company develops, manufactures and markets interior and exterior automatic-dimming automotive rearview mirrors that utilize proprietary electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. More than half of the Company's interior mirrors are sold with advanced electronic features, and more than 98 percent of the Company's net sales are derived from the sale of auto-dimming mirrors to every major automaker in the world.


Contact:
Lisa Richlich
Investor Relations
616-772-1590, ext. 4207
Fax: 616-772-7348
Email: Email Contact




SOURCE: Gentex Corporation


http://www2.marketwire.com/mw/emailprcntct?id=7BEA47B69604A960

Reminder - Gentex (GNTX) Goes Ex-Dividend Soon
http://www.forbes.com/sites/dividendchannel/2012/10/01/reminder-gentex-gntx-goes-ex-dividend-soon/?partner=yahootix

This Metric Suggests You're Right to Own Gentex
http://www.fool.com/investing/general/2012/08/31/this-metric-suggests-youre-right-to-own-gentex.aspx

love this company! great future ahead, big profits for me and all investors! friends, build up!

wow, doubling pps till oct. and then dividends on top? great! GNTX

Gentex Declares Quarterly Cash Dividend

Aug 21, 2012 16:03:32 (ET)


ZEELAND, MI, Aug 21, 2012 (MARKETWIRE via COMTEX) -- Gentex Corporation (GNTX, Trade ), the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and camera-based lighting-assist and driver-assist systems for the automotive industry, commercial fire protection products and dimmable aircraft windows, today announced that its Board of Directors recently declared a quarterly cash dividend of $0.13 (13 cents) per share that will be payable October 19, 2012, to shareholders of record of the common stock at the close of business on October 5, 2012.

About the Company

Founded in 1974, Gentex Corporation (GNTX, Trade ) is the leading supplier of automatic-dimming rearview mirrors and camera-based lighting-assist and driver-assist systems to the global automotive industry. The Company also provides commercial smoke alarms and signaling devices to the North American fire protection market, as well as dimmable aircraft windows for the commercial, business and general aviation markets. Based in Zeeland, Michigan, the international Company develops, manufactures and markets interior and exterior automatic-dimming automotive rearview mirrors that utilize proprietary electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. More than half of the Company's interior mirrors are sold with advanced electronic features, and more than 98 percent of the Company's net sales are derived from the sale of auto-dimming mirrors to every major automaker in the world. Visit the Company's web site at www.gentex.com .


CONTACT:
Connie Hamblin
616/772-1800
WEBSITE:
www.gentex.com





SOURCE: Gentex Corporation


http://www.gentex.com/

my new target just around $ 39 lol GNTX downgraded LOL

don´t even cost a lough, something for the mormons:
http://www.thestreet.com/story/11664181/1/gentex-corporation-stock-downgraded-gntx.html?puc=yahoo&cm_ven=YAHOO

Gentex Sole American Company Honored by Volkswagen Group

Aug 8, 201208:14:31 (ET)

ZEELAND, MI, Aug 08, 2012 (MARKETWIRE via COMTEX) -- Gentex Corporation (GNTX, Trade ), the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and camera-based driver-assist systems for the automotive industry, commercial fire protection products and dimmable aircraft windows, announced that the Company was recently presented with a Volkswagen Group Award at an award ceremony in Copenhagen, Denmark. Gentex was one of only 18 global suppliers and the only U.S. company to receive the award.

According to Volkswagen, the Volkswagen Group Award is presented to the car company's best suppliers for entrepreneurial performance. Main criteria for the award include innovative strength, product quality, development expertise, competent project management, initiatives to improve efficiency and environmental compatibility.

Gentex Chairman of the Board and Chief Executive Officer Fred Bauer attended the ceremony in Denmark. "This is a very prestigious award in the automotive industry," stated Bauer. "Gentex engineers, program managers, sales teams, and production associates all share in this recognition. We were able to design and produce high-quality products that met the multiple needs of VW and I'm proud to share this award with all Gentex employees globally."

Founded in 1974, Gentex Corporation is the leading supplier of automatic-dimming rearview mirrors andcamera-based driver-assist and lighting-assist systems to the global automotive industry. The Company also provides commercial smoke alarms and signaling devices to the North American fire protection market, as well as dimmable aircraft windows for the commercial, business and general aviation markets. Based in Zeeland, Michigan, the international Company develops, manufactures and markets interior and exterior automatic-dimming automotive rearview mirrors that utilize proprietary electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. More than half of the Company's interior mirrors are sold with advanced electronic features, and more than 98percent of the Company's net sales are derived from the sale of auto-dimming mirrors to every major automaker in the world.

CONTACT: Connie Hamblin 616/772-1800 WEBSITE: www.gentex.com

SOURCE: Gentex Corporation

Nice grind upward...I like this pickle lol

upupupwego
steady and surely

Weeeeeeeee!

tmrw 17- - - nobody can stop us lol

This has been moving up nicely since we bought

hehe I see a big gap wanna get closed lol

How are we doing here today?

Gentex Shipping SmartBeam and Driver Assist for New Lincoln MKS and MKT Models
Today : Thursday 26 July 2012


Gentex Corporation (NASDAQ: GNTX) ("the Company"), the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and camera-based driver-assist and lighting-assist systems for the automotive industry, commercial fire protection products and dimmable aircraft windows, announced today that it is supplying auto-dimming mirrors with the Company's own SmartBeam® lighting assist system, as well as auto-dimming mirrors with a camera-based driver-assist system for both the new 2013 Lincoln MKS full-size premium sedan and 2013 Lincoln MKT three-row premium crossover.
Gentex's SmartBeam feature uses a relatively low-resolution camera to automatically turn a vehicle's high beams on and off according to surrounding traffic conditions. The Gentex driver-assist system uses a high-resolution, multi-function camera combined with algorithmic decision-making to perform Automatic High-Beam Control, Lane Keeping and Driver Alert. The system was developed in conjunction with Mobileye®, the global pioneer in the development of vision-based driver-assistance systems. In Lane Keeping mode, the driver is warned by vibrating the steering wheel, while the Lane Keeping function warns the driver by applying torque at the steering wheel to direct the vehicle back into the lane. Driver Alert monitors the vehicle's lane position and can notify a driver of signs of inattentiveness with a coffee cup warning light that appears on the dashboard instrument cluster. Certain components, including the camera and microprocessor, are integrated into a Gentex interior auto-dimming mirror.

"Both the MKS and MKT are part of the reinvention of the Lincoln brand, and it's inspiring for us to see our auto-dimming mirrors as standard equipment offering these cutting-edge technologies through different packages on these models," said Gentex Senior Vice President Mark Newton. "Drivers have the choice of purchasing the MKS or MKT with either our SmartBeam high beam lighting-assist mirror product or our mirror with the driver-assist package. This is a good example of the OEM providing the consumer with the choice of technology options that best fit their own wants and needs."

Newton said the Gentex in-mirror driver-assist system that integrates this Mobileye technology was in development for over two years. He said that Gentex purchases an imager for which the Mobileye algorithms are specifically designed, and builds a camera assembly with it. The Company also purchases a Mobileye EyeQ™ vision-system-on-a-chip that has Mobileye driver-assist algorithms in it, and then designs an electronic system with it that interfaces with the vehicle. The Gentex electronic system is housed within the interior rearview mirror and works with the Gentex camera assembly incorporated in the mirror mount.

"Having these driver assist systems finally hit the market with some volume is the culmination of significant development and testing at Gentex," said Newton. "This is an important new technology area for us, and we believe that there are many vehicles that can and will take advantage of the styling benefits afforded by housing these complex systems in the interior rearview mirror housing instead of adding another box to the 'sensor farms' that are showing up on the windscreens of other vehicle models."

Auto-dimming rearview mirrors automatically darken to reduce glare from the headlamps of vehicles approaching from the rear. The brighter the glare, the darker the mirror becomes, making nighttime driving safer.

Founded in 1974, Gentex Corporation is the leading supplier of automatic-dimming rearview mirrors and camera-based driver-assist and lighting-assist systems to the global automotive industry. The Company also provides commercial smoke alarms and signaling devices to the North American fire protection market, as well as dimmable aircraft windows for the commercial, business and general aviation markets. Based in Zeeland, Michigan, the international Company develops, manufactures and markets interior and exterior automatic-dimming automotive rearview mirrors that utilize proprietary electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. More than half of the Company's interior mirrors are sold with advanced electronic features, and more than 98 percent of the Company's net sales are derived from the sale of auto-dimming mirrors to every major automaker in the world.

CONTACT:

Connie Hamblin

616/772-1800

WEBSITE: www.gentex.com

well the 15 ain't look bad, not sure if we can get em much cheaper. however, I'm in with a starter position!

Total crap but I agree...more cheaper coming...
Gentex Corp Cut To Hold From Buy By Craig-Hallum >GNTX

Jul 25, 2012 08:13:17 (ET)

(END) Dow Jones Newswires

July 25, 2012 08:13 ET (12:13 GMT)

definitely! short and false panic - - - about timing: now is a great opportunity to get cheapies within a long time

That s a short

.01 not .1 lol

just wish I had my limit buy a little lower today...like a whole 1.00 lower lol

.1 caused that dive? Shorters played with the panic.

Gentex misses by $0.01, reports revs in-line; guides Q3 revs below consensus

8:05 AM ET 7/24/12 | Briefing.com Reports Q2 (Jun) earnings of $0.28 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.29; revenues rose 15.3% year/year to $280.3 mln vs the $282.27 mln consensus. Co issues downside guidance for Q3, sees Q3 revs of apoprlx. flat to up 5% YoY, which calculates to ~$269.5-282.9 mln vs. $290.76 mln Capital IQ Consensus Estimate.

Gentex Reports Second Quarter Financial Results

8:00 AM ET 7/24/12 | Marketwire

Gentex Corporation (NASDAQ: GNTX), the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and camera-based lighting and driver-assist systems for the automotive industry, commercial fire protection products and dimmable aircraft windows, today reported financial results for the second quarter and first six months ended June 30, 2012.

For the second quarter of 2012, the Company's net sales increased by 15 percent to $280.3 million compared with $243.0 million in the second quarter of 2011. For the first six months of 2012, the Company's net sales increased by 16 percent to $571.0 million compared with $493.9 million for the same six-month period in 2011.

The gross margin declined on a sequential basis to 33.1 percent in the second quarter of 2012 compared with 34.7 percent in the first quarter of 2012. The gross margin also decreased on a quarter-over-quarter basis from 35.2 percent in the second quarter of 2011 to 33.1 percent in the second quarter of 2012. These declines in the gross profit margin were primarily due to the impact of annual customer price reductions and product mix, partially offset by purchasing cost reductions.

Net income for the second quarter of 2012 increased six percent to $40.8 million, compared with net income of $38.5 million in the second quarter of 2011. Net income for the first six months of 2012 increased by eight percent to $87.1 million, compared with $80.8 million in the first six months of 2011.

Earnings per diluted share were 28 cents in the second quarter of 2012 compared with 27 cents per share in the second quarter of 2011. Earnings per diluted share were 60 cents for the first six months of 2012 compared with 56 cents in the first six months of 2011.

"While we are pleased with the growth in net sales in the second quarter, we recognize that we have work to do to improve the gross profit margin," said Gentex Chairman of the Board and Chief Executive Officer Fred Bauer. "The results from the second quarter of 2012 also demonstrate that we have reduced the rate of increase in our operating expenses, due to a focused effort to make sure those expenses are in line with the Company's top line revenue growth."

Rear Camera Display Update

Gentex Rear Camera Display (RCD) Mirrors have always been sold to automakers that use multiple options for where they install the display for the rear camera. The Company recently confirmed that four of its customers are changing their primary RCD display location from the mirror to a radio display location in the center console, with two of those customer changes to materially impact RCD mirror unit shipments negatively in the 2013 calendar year. The RCD location changes at the other two customers will materially impact RCD unit shipments negatively beginning in calendar year 2014.

As previously announced, the Company's solution to meet the pending Kids Transportation Safety Act ("KTSA") requirement is RCD Mirrors, which display high-resolution, color images of the area directly behind the vehicle via an automaker-specified camera.

The pending KTSA requirement that all new vehicles in the United States will be required to be equipped with cameras and rear camera displays by September 2014 has been delayed three times. The Company does not believe there has been any change to its understanding that the pending rule currently resides at the Office of Management and Budget, and that the final rule still is currently expected by December 31, 2012.

As a result of the KTSA delays, and the uncertainties that they have created in the automotive market, the Company continues to believe that RCD Mirror unit shipments will be approximately flat for calendar year 2012 versus 2011.

SmartBeam(R) and Driver Assist Camera Products Update

SmartBeam is the Company's high beam headlamp assist product that optimizes forward visibility by automating high-beam usage, which allows drivers to better identify and react to potential hazards in the road ahead.

Currently, Gentex SmartBeam products are predominantly sold in Europe. Given that fact and based on the latest IHS June 2012 forecast for light vehicle production, it is now expected that SmartBeam unit shipments will increase by approximately 20-25 percent in calendar year 2012 compared with calendar year 2011. This downward revision to the Company's previous 2012 SmartBeam guidance is primarily due to lower take rates and option package changes at certain European customers, and the decline in European light vehicle production on vehicle models that offer SmartBeam.

Gentex also recently began shipping auto-dimming mirrors with a new, camera-based driver-assist system for the 2013 Ford Explorer. This program was the first of a number of driver-assist awards that the Company expects to announce this year. This new Gentex driver-assist system uses a multi-function camera combined with algorithmic decision-making to perform automatic high beam control, lane keeping and driver alert. The system was developed in conjunction with Mobileye, a global pioneer in the development of vision-based driver assistance systems.

On June 25, 2012, American Vehicular Sciences LLC ("AVS") filed four patent infringement complaints in the Eastern District of Texas, each of which name Gentex and at least one of two of its customers as co-defendants. The Company has not yet been served with the complaints, but we are currently evaluating the allegations of infringement. In two of the four complaints, AVS alleges that Gentex's SmartBeam product infringes one patent owned by AVS. In the other two complaints, AVS alleges that Gentex's monitoring system products infringe two other patents owned by AVS. The Company is uncertain of what impact, if any, the above claims may potentially have on our business.

Unit Shipments and Net Sales

Total auto-dimming mirror unit shipments increased by 19 percent in the second quarter of 2012 compared with the second quarter last year. Automotive net sales increased by 15 percent from $238.2 million in the second quarter of 2011 to $274.8 million in the second quarter of 2012. In addition, the Company is experiencing increased volatility with customer orders in the near term.

Auto-dimming mirror unit shipments increased by 33 percent in North America in the second quarter of 2012, compared with the second quarter of 2011, primarily as a result of increased mirror unit shipments to the Japanese transplant and the Detroit Three automakers. North American light vehicle production increased by 25 percent in the second quarter of 2012 compared with the same prior-year quarter. However, there was variability in vehicle production levels within certain domestic automakers, ranging from flat to slightly up.

Auto-dimming mirror unit shipments to offshore automakers increased by 10 percent in the second quarter of 2012 compared with the same quarter last year. The increase in unit shipments was primarily due to increased mirror unit shipments to certain Japanese automakers. Light vehicle production in Europe decreased by approximately ten percent in the second quarter of 2012, and increased by 34 percent in Japan and Korea in the second quarter of 2012, compared in each case with the same quarter last year.

Total auto-dimming mirror unit shipments increased by 17 percent in the first six months of 2012 compared with the first six months last year. Automotive net sales increased by 16 percent from $484.5 million in the first six months of 2011 to $560.5 million in the first six months of 2012.

Auto-dimming mirror unit shipments increased by 25 percent in North America in the first six months of 2012, compared with the first six months of 2011, primarily as a result of increased mirror unit shipments to the Detroit Three as well as certain Japanese and European transplant automakers. North American light vehicle production increased by 21 percent in the first six months of 2012 compared with the same prior-year period. Again, there was variability in vehicle production levels within certain domestic automakers, ranging from flat to slightly up.

Auto-dimming mirror unit shipments to offshore customers increased by 12 percent in the first six months of 2012 compared with the same period last year. The increase in unit shipments was primarily due to increased mirror unit shipments to certain European and Japanese automakers. Light vehicle production in Europe decreased by approximately six percent in the first six months of 2012, and increased by 34 percent in Japan and Korea in the first six months of 2012, compared in each case with the same period last year.

Other net sales increased by 13 percent to $5.4 million for the second quarter of 2012 compared with the same quarter last year, primarily due to an increase in dimmable aircraft window net sales, partially offset by decreased fire protection net sales.

Other net sales increased by 10 percent to $10.5 million for the first six months of 2012 compared with the same period last year, primarily due to an increase in dimmable aircraft window net sales, partially offset by decreased fire protection net sales.

The increase in dimmable aircraft window net sales for the second quarter and first six months of 2012 was primarily due to increased shipments of dimmable windows for the Boeing 787 Dreamliner series of aircraft. Fire protection net sales continue to be impacted by the relatively weak commercial construction market.

Future Estimates

Gentex Chief Financial Officer Steve Dykman provided certain guidance for 2012.

"Our estimate for net sales for the third quarter of 2012 is approximately in the range of flat to an increase of five percent compared with the third quarter of 2011, based on IHS's June 2012 forecast for light vehicle production levels," said Dykman.

The Company continues to experience increased volatility in customer orders within the 12-week customer release window, with some of its customers, including the tier 1 mirror suppliers, reducing orders at the last minute, making it increasingly difficult to forecast with any degree of certainty.

The Company has also been experiencing increased pricing pressure, resulting in a trend moving toward the higher end of the range for annual customer price reductions that has previously been disclosed by the Company.

Based on the Company's expected net sales for the third quarter of 2012, Dykman said that the Company currently expects that its gross profit margin for the third quarter of 2012 will increase sequentially by approximately 1/2 (0.5) percentage point compared with the gross profit margin of 33.1 percent reported in the second quarter of 2012, primarily due to increased production efficiencies.

He also said that the Company's guidance for growth in operating expenses is now more in line with historic growth rates. The Company currently expects Engineering, Research and Development expense to increase by approximately ten percent in the third quarter of 2012, compared with the third quarter last year. Additionally, Selling, General and Administrative expense is currently expected to increase by approximately five percent for the third quarter of 2012, compared with the third quarter of 2011. This estimate is based on stable foreign exchange rates.

The Company's current forecasts for light vehicle production for each of the following periods in 2012 compared with the same periods in 2011 are based on IHS Automotive's June 2012 forecast for light vehicle production in North America, Europe and Japan and Korea:

Gentex Corp Started At Overweight By JPMorgan >GNTX

Jul 18, 2012 06:48:43 (ET)

(END) Dow Jones Newswires

July 18, 2012 06:48 ET (10:48 GMT)

Gentex Corporation Announces Webcast of Second Quarter 2012 FinancialResults Conference Call

Jul 12, 2012 08:26:08 (ET)

ZEELAND, MI, Jul 12, 2012 (MARKETWIRE via COMTEX) -- Gentex Corporation (GNTX, Trade ) announces the following webcast:

What: Second Quarter 2012 Financial Results Conference Call

When: Tuesday, July 24, 2012, at 10:30 a.m. EDT

Where: http://www.gentex.com

How: Live over the Internet -- Log on to the web at the address above

If you are unable to participate during the live webcast, the call will be archived at http://www.gentex.com . To access the replay, click on Investor Information Audio Archives.

Founded in 1974, Gentex Corporation is the leading supplier of automatic-dimming rearview mirrors andcamera-based lighting-assist and driver-assist systems to the global automotive industry. The Company also provides commercial smoke alarms and signaling devices to the North American fire protection market, as well as dimmable aircraft windows for the commercial, business and general aviation markets. Based in Zeeland, Michigan, the international Company develops, manufactures and markets interior and exterior automatic-dimming automotive rearview mirrors that utilize proprietary electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. More than half of the Company's interior mirrors are sold with advanced electronic features, and more than 98percent of the Company's net sales are derived from the sale of auto-dimming mirrors to every major automaker in the world.

Contact: Lisa Richlich Investor Relations 616-772-1590, ext. 4207 Fax: 616-772-7348 Email: Email Contact

SOURCE: Gentex Corporation

52 week lows and ex divi date coming up!
weeeeeeeeeeeeeeeeeeee!

Hello Mirror Display, Goodbye Fender Mirror

May 21, 2012 16:13:18 (ET)


ZEELAND, MI, May 21, 2012 (MARKETWIRE via COMTEX) -- Gentex Corporation (GNTX, Trade ), the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and camera-based lighting and driver-assist systems for the automotive industry, is providing a rearview-mirror-integrated display for the all-new Mazda CX-5 sold in Japan that allows the vehicle to meet unique Japanese safety requirements while enhancing vehicle styling.

Specifically, Gentex is shipping an automatic-dimming interior mirror with an integrated 3.3-inch liquid crystal display that not only shows the view from the vehicle's backup camera, but also, with the press of a button, shows the view along the passenger side of the vehicle from a camera located in the exterior mirror.

In Japan, vehicle safety regulations dictate that all vehicles meet what is often referred to as the "one-meter pole" requirement. It states that drivers must be able to view, either directly or in their mirrors, a one meter tall by 0.3 meter diameter cylinder placed directly in front of or alongside the passenger side of the vehicle.

Often automakers comply with the regulation by using a fender mirror, which attaches to the vehicle's front fender and helps eliminate the passenger-side blind zone. While fender mirrors do offer a solution, they often are not a part of the vehicle's initial design, and can look out of place on an otherwise meticulously planned and stylized vehicle.

The 2013 Mazda CX-5 passenger-side monitor and rear camera display are standard equipment on the CX-5 models sold in Japan.

"It's great to see our mirror display performing double duty as both a rear- and side-view monitor," said Mark Newton, senior vice president of Gentex Corporation. "It's difficult for automakers to design vehicles that comply with various laws and regulations in multiple regions while maintaining the balance between form and function. We were happy to work with Mazda to find a creative way to use our mirror-integrated display."

Founded in 1974, Gentex Corporation is the leading supplier of automatic-dimming rearview mirrors and camera-based driver-assist systems to the global automotive industry. The Company also provides commercial smoke alarms and signaling devices to the North American fire protection market, as well as dimmable aircraft windows for the commercial, business and general aviation markets. Based in Zeeland, Michigan, the international Company develops, manufactures and markets interior and exterior automatic-dimming automotive rearview mirrors that utilize proprietary electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. More than half of the Company's interior mirrors are sold with advanced electronic features, and more than 98 percent of the Company's net sales are derived from the sale of auto-dimming mirrors to every major automaker in the world.


Contact:
Connie Hamblin
616-772-1800




SOURCE: Gentex

Gentex Reports All-Time Quarterly Record Net Sales and Net Income

8:02 AM ET 4/19/12 | Marketwire

Gentex Corporation (NASDAQ: GNTX), the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and camera-based lighting and driver-assist systems for the automotive industry, commercial fire protection products and dimmable aircraft windows, today reported all-time record financial results for any quarter in the first quarter ended March 31, 2012.

For the first quarter of 2012, the Company's all-time record net sales for any quarter increased by 16 percent to $290.7 million compared with $250.9 million in the first quarter of 2011.

The gross profit margin was flat on a sequential basis at 34.7 percent in the first quarter of 2012 compared with the fourth quarter of 2011, primarily due to the impact of annual customer price reductions, which were offset by purchasing and manufacturing cost reductions. The gross profit margin decreased on a quarter-over-quarter basis from 36.0 percent in the first quarter of 2011 to 34.7 percent in the first quarter of 2012, primarily due to annual customer price reductions, partially offset by purchasing and manufacturing cost reductions.

All-time record net income for any quarter increased nine percent to $46.3 million in the first quarter of 2012, compared with net income of $42.3 million in the first quarter of 2011, primarily due to increased net sales and gross profit.

Earnings per diluted share were 32 cents in the first quarter of 2012 compared with 29 cents per share in the first quarter of 2011.

"We are pleased to report another all-time record quarter in net sales and net income for Gentex Corporation, despite a volatile automotive environment," said Gentex Chairman of the Board and Chief Executive Officer Fred Bauer. "The increased net sales and auto-dimming mirror unit shipments in the first quarter of 2012 were primarily a result of increased demand from our North American and European customers."

Rear Camera Display Update

Gentex Vice President of Finance and Chief Financial Officer Steve Dykman said that on February 28, 2012, U.S. Secretary of Transportation Ray LaHood provided an update to Congressman Fred Upton and other congressional leaders, announcing another delay in the final rule related to the Cameron Gulbransen Kids Transportation Safety Act (KTSA). Secretary LaHood indicated that additional time is needed to complete the final rule and that he anticipates that the Department of Transportation can now issue the final standards by December 31, 2012.

As previously announced, the Company's solution to meet the pending KTSA requirement is its Rear Camera Display (RCD) Mirrors, which display high-resolution, color images of the area directly behind the vehicle via an automaker-specified camera.

Unit Shipments and Net Sales

Total auto-dimming mirror unit shipments increased by 16 percent in the first quarter of 2012 compared with the first quarter last year. Automotive net sales also increased by 16 percent from $246.3 million in the first quarter of 2011 to $285.7 million in the first quarter of 2012.

Automatic-dimming mirror unit shipments increased by 18 percent in North America in the first quarter of 2012, compared with the first quarter last year, primarily as a result of increased mirror unit shipments to the Detroit Three as well as Japanese and European transplant automakers. North American light vehicle production increased by 16 percent in the first quarter of 2012 compared with the same prior-year quarter.

Automatic-dimming mirror unit shipments to offshore customers increased by 14 percent in the first quarter of 2012 compared with the same quarter last year. The increase in unit shipments was primarily due to increased mirror unit shipments to certain European automakers. Light vehicle production in Europe decreased by four percent in the first quarter of 2012, and increased by 33 percent in Japan and Korea in the first quarter of 2012, in each case compared with the same quarter last year.

Other net sales increased by eight percent to $5.0 million for the first quarter of 2012 compared with the same quarter last year, primarily due to a 48 percent increase in dimmable aircraft window net sales.

The increase in dimmable aircraft window net sales for the first quarter of 2012 was primarily due to increased shipments of dimmable windows for the Boeing 787 Dreamliner series of aircraft. Fire Protection net sales were flat quarter over quarter and continue to be impacted by the relatively weak commercial construction market.

Future Estimates

Gentex Chief Financial Officer Steve Dykman provided certain guidance for 2012.

"Our estimate for net sales for the second quarter of 2012 is an increase of approximately 15 percent compared with the same quarter in 2011, based on IHS's March 2012 forecast for light vehicle production levels," said Dykman.

Based on the Company's expected net sales for the second quarter of 2012, Dykman said that the Company currently expects that its gross profit margin for the second quarter of 2012 will be in approximately the same range as the gross profit reported in the first quarter of 2012.

In addition, the Company continues to expect that unit shipments of its SmartBeam(R) high beam headlamp assist product will increase by approximately 40-45 percent in calendar year 2012, compared with unit shipments of 1.0 million units in calendar year 2011. The Company also currently expects that unit shipments of its Rear Camera Display (RCD) Mirrors will be approximately flat for calendar year 2012 compared with calendar year 2011. The Company shipped approximately 1.7 million RCD Mirrors in calendar year 2011. Both SmartBeam and RCD Mirror unit forecasts are based on the IHS March 2012 forecast for light vehicle production.

The Company's current forecasts for light vehicle production for each of the following periods in 2012 compared with the same periods in 2011 are based on IHS Automotive's March 2012 forecast for light vehicle production in North America, Europe and Japan and Korea:

View data

Second quarter of 2012 Vs. Second Quarter Light Vehicle Production (per IHS) % change of 2011 -------- -------------------- North America: 3.7 million vehicle units +19% 3.1 million Europe: 4.8 million vehicle units -10% 5.3 million Japan and Korea: 3.4 million vehicle units +31% 2.6 million Calendar Year 2012 Vs. Calendar Year Light Vehicle Production % change 2011 -------- -------------------- North America: 14.6 million vehicles +11% 13.1 million Europe: 18.8 million vehicles -7% 20.2 million Japan and Korea: 13.8 million vehicles +10% 12.5 million

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act, as amended, that are based on management's beliefs, assumptions, current expectations, estimates and projections about the global automotive industry, the economy and the Company itself. Words like "anticipates," "believes," "confident," "estimates," "expects," "forecast," "hopes", "likely," "plans," "projects," "optimistic," and "should," and variations of such words and similar expressions identify forward-looking statements. These statements do not guarantee future performance and involve certain risks, uncertainties, and assumptions that are difficult to predict with regard to timing, expense, likelihood and degree of occurrence. These risks include, without limitation, the pace of economic activity in the United States and in international markets, employment and general economic conditions; worldwide automotive production; the maintenance of the Company's market share; the ability to control costs, including the ability to achieve purchasing cost reductions, control and leverage fixed overhead costs, and maintain margins; the ability to control E,R&D and S,G&A expenses; customer inventory management; competitive pricing pressures; currency fluctuations; interest rates; equity prices; the financial strength/stability of the Company's customers (including their Tier 1 suppliers); potential impact of supply chain disruptions including but not limited to those caused by natural disasters and any other part shortages; potential sale of OEM business segments or suppliers; potential customer (including their Tier 1 suppliers) bankruptcies; the mix of products purchased by customers, the ability to continue to make product innovations; intellectual property litigation risk; the market for Rear Camera Display Mirrors and the success of those products; the success of certain other products (e.g. SmartBeam(R) and other camera-based product development); and other risks identified in the Company's other filings with the Securities and Exchange Commission. Therefore, actual results and outcomes may materially differ from what is expressed or forecasted. Furthermore, the Company undertakes no obligation to update, amend, or clarify forward-looking statements, whether as a result of new information, future events, or otherwise.

Second Quarter Conference Call

A conference call related to this news release will be simulcast live on the Internet beginning at 10:30 a.m. EST today. To access that call, go to http://www.gentex.com and select the "Audio Webcast" icon on the right side of the page. Other conference calls hosted by the Company will also be available at that site in the future.

About the Company

Founded in 1974, Gentex Corporation (NASDAQ: GNTX) is the leading supplier of automatic-dimming rearview mirrors and camera-based lighting- and driver-assist systems to the global automotive industry. The Company also provides commercial smoke alarms and signaling devices to the North American fire protection market, as well as dimmable aircraft windows for the commercial, business and general aviation markets. Based in Zeeland, Michigan, the international Company develops, manufactures and markets interior and exterior automatic-dimming automotive rearview mirrors that utilize proprietary electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. More than half of the Company's interior mirrors are sold with advanced electronic features, and more than 98 percent of the Company's net sales are derived from the sale of auto-dimming mirrors to every major automaker in the world. Visit the Company's web site at www.gentex.com.

Gentex currently is working to fill a significant number of manufacturing and technical positions, primarily in the electrical, software development and engineering areas. Additional information is available at http://www.gentex.com/careers/.

Gentex Announces SmartBeam(R) Program on New Ford Taurus

Apr 10, 2012 08:10:10 (ET)


ZEELAND, MI, Apr 10, 2012 (MARKETWIRE via COMTEX) -- Gentex Corporation (GNTX, Trade ), the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and camera-based lighting-assist systems for the automotive industry, commercial fire protection products and dimmable aircraft windows, has announced that the Company's SmartBeam(R) high-beam lighting assist system will be available on the 2013 Ford Taurus. The vehicle will go on sale in North America starting in the spring of 2012.

The Taurus, Ford's flagship sedan, will offer SmartBeam on the Limited and SHO models.

"More and more automakers are adopting technology that improves forward lighting, and we are excited to be working with Ford on bringing SmartBeam to more of their products," stated Mark Newton, Gentex senior vice president.

SmartBeam optimizes forward visibility by automating high-beam usage, which allows drivers to better identify and react to potential hazards in the road ahead.

"With SmartBeam, the repetitive task of manually turning the high beams on and off is eliminated, allowing the driver to better concentrate on the road and prevent blinding oncoming traffic," said Newton.

SmartBeam is integrated into Gentex auto-dimming rearview mirrors that automatically sense glare from the headlamps of rearward approaching vehicles, and dim in proportion to the amount of glare detected, preserving the driver's forward vision.

Founded in 1974, Gentex Corporation is the leading supplier of automatic-dimming rearview mirrors and camera-based lighting-assist and driver-assist systems to the global automotive industry. The Company also provides commercial smoke alarms and signaling devices to the North American fire protection market, as well as dimmable aircraft windows for the commercial, business and general aviation markets. Based in Zeeland, Michigan, the international Company develops, manufactures and markets interior and exterior automatic-dimming automotive rearview mirrors that utilize proprietary electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. More than half of the Company's interior mirrors are sold with advanced electronic features, and more than 98 percent of the Company's net sales are derived from the sale of auto-dimming mirrors to every major automaker in the world.


CONTACT:
Connie Hamblin
616/772-1800
WEBSITE:
www.gentex.com





SOURCE: Gentex

New Gentex High Beam Technology: All of the Light With None of the Glare


03/08 08:12 AM

--------------------------------------------------------------------------------

ZEELAND, MI -- (MARKETWIRE) -- 03/08/12 -- Gentex Corporation (GNTX:$23.48,00$0.03,000.13%) , the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and camera-based lighting-assist systems for the global automotive industry, today announced that it is shipping its new vision-based, glare-free high-beam system for the 2012 BMW (BAMXF:$89.90,00$2.32,002.65%) 3 Series, available throughout Europe.

Known as SmartBeam® DFL (Dynamic Forward Lighting), the system consists of a custom CMOS (complementary metal oxide semiconductor) image sensor combined with algorithmic decision-making to offer constant "on" glare-free high beams. Specifically, the system detects the presence of other headlamps and taillamps and generates dynamic "block-out" zones around vehicles that it is either trailing or moving toward. Special headlamps equipped with shutters block portions of the high beams to prevent blinding surrounding traffic while continuously optimizing forward lighting.

"SmartBeam DFL allows maximum use of the high beams in order to improve forward visibility and enhance the driver's ability to detect potential road hazards," said Mark Newton, Gentex (GNTX:$23.48,00$0.03,000.13%) senior vice president. "The vehicle's high beams are in a 'constant on' position, resulting in significantly better forward vision during nighttime driving."

Gentex (GNTX:$23.48,00$0.03,000.13%) invented the lighting-assist product category in 2001 when it announced its original SmartBeam product, which marked the first time a camera system was used to maximize forward lighting by automatically switching between high and low beams according to surrounding traffic and lighting conditions.

"SmartBeam DFL is built off our original and highly successful SmartBeam system," continued Newton. "Using a low-cost, custom image sensor design precisely for light detection, we can provide premium high-beam functionality at a reasonable price point, making it perfect for widespread adoption on high-volume vehicles like the BMW (BAMXF:$89.90,00$2.32,002.65%) 3 Series."

Consumer demand has made SmartBeam one of Gentex's (GNTX:$23.48,00$0.03,000.13%) most popular features. The Company has shipped nearly 3.0 million units since 2004. Last year alone the Company saw shipments reach the 1.0 million mark, and Gentex (GNTX:$23.48,00$0.03,000.13%) currently expects SmartBeam unit shipments to increase by approximately 40-45 percent in calendar year 2012.

"Approximately 90 percent of the information required to drive a vehicle is obtained visually," said Newton. "Drivers inherently appreciate simple, relatively inexpensive features that enhance visibility and allow them to focus on the driving task. Automakers appreciate SmartBeam because it has a proven track record and because it's relatively easy to integrate into the vehicle."

SmartBeam is integrated into a Gentex (GNTX:$23.48,00$0.03,000.13%) automatic-dimming rearview mirror, and the CMOS camera and related electronics are incorporated into the mirror mount. While the mirror mount is attached to the windscreen, the camera "floats" off the glass, eliminating the angle of the windscreen as a variable, and the mirror assembly functions across vehicle platforms. This design also provides a multitude of upscale styling opportunities that are not available with other systems that require a separate box mounted directly to the windscreen.

"Having the SmartBeam system integrated into the rearview mirror is a more elegant styling solution," said Newton. "And, because the camera is 'off glass,' it minimizes potential warranty issues stemming from windscreen replacement and improperly re-installed or misaimed cameras."

Gentex (GNTX:$23.48,00$0.03,000.13%) auto-dimming rearview mirrors automatically sense glare from the headlamps of rearward approaching vehicles, and dim in proportion to the amount of glare detected, preserving the driver's forward vision.

SmartBeam is available on the BMW (BAMXF:$89.90,00$2.32,002.65%) 3 Series in a special "Light and Sight" package that also comes with Xenon headlamps.

Founded in 1974, Gentex Corporation (GNTX:$23.48,00$0.03,000.13%) is the leading supplier of automatic-dimming rearview mirrors and camera-based lighting assist systems to the global automotive industry. The Company also provides commercial smoke alarms and signaling devices to the North American fire protection market, as well as dimmable aircraft windows for the commercial, business and general aviation markets. Based in Zeeland, Michigan, the international Company develops, manufactures and markets interior and exterior automatic-dimming automotive rearview mirrors that utilize proprietary electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. More than half of the Company's interior mirrors are sold with advanced electronic features, and more than 98 percent of the Company's net sales are derived from the sale of auto-dimming mirrors to every major automaker in the world. Visit the Company's web site at www.gentex.com.

Gentex (GNTX:$23.48,00$0.03,000.13%) currently is working to fill a significant number of manufacturing and technical positions, primarily in the electrical, software development and engineering areas. Additional information is available at http://www.gentex.com/careers/.

CONTACT:
Connie Hamblin
616/772-1800
WEBSITE: www.gentex.com

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