3 June 1999: US-based Gentex Corporation, the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and commercial fire protection products, has been named to Business Week“s 199…
3 June 1999: US-based Gentex Corporation, the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and commercial fire protection products, has been named to Business Week“s 1999 “Hot Growth” list, which ranks the 100 fastest-growing small companies. In this, its 15th annual list, Business Week ranked Gentex No. 65 overall, identifying the company“s three-year average sales and earnings increases as 25.8% and 39.4%, respectively. Gentex“s three-year average return on capital was stated as 19.9%. According to Business Week, the selection process for the Hot Growth list begins by ranking companies according to their three-year results in sales growth, earnings growth, and return on invested capital. A company“s composite rank is calculated by taking the sum of 0.5 times its rank in return on total capital plus 0.25 times each of its growth ranks. To qualify for the list, a company must have annual sales of more than US$ 25 million and less than US$ 500 million, a current market value greater than US$ 25 million, a current stock price greater than US$ 5, and be actively traded. Also, the most recent return on capital has to be at least 90% of the previous year. Gentex develops, manufactures and markets proprietary electro-optic products, including interior and exterior electrochromic, automatic-dimming Night Vision Safety(TM) (NVS(R)) automotive rearview mirrors and an extensive line of fire protection products for commercial applications. Revenues from the sale of automatic-dimming mirrors represent about 91% of total company revenues.