Gentex Posts An 11 Percent Sale Gain

July 21, 2004
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ZEELAND – Gentex Corp. recorded an 11 percent sales gain in the second quarter en route to another record financial performance.

Gentex today reported record second quarter sales of $129.6 million, up 11 percent over the $116.9 million in the same period a year ago.

Net income totaled a record $29.0 million, or 37 cents per share, also up 11 percent from the $26.1 million, or 34 cents per share, in the second quarter of 2003.

At mid-year, the Zeeland-based Gentex’s sales were up 10.8 percent from the same period a year earlier, from $232.2 million to $258.9 million. Mid-year net income was $58.8 million, or 76 cents per share, a 13.2 percent increase from the $51.9 million, or 68 cents per share, through the first six months of 2003.

Shipments of Gentex’s auto-dimming automotive mirrors were up 18 percent on the quarter, to 3 million units, and 18 percent for the first half of the year, to 5.9 million units.

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