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Gentex: fourth-quarter forecast

14 January 1999: Gentex Corp., a US-based maker of automatic-dimming rearview mirrors and commercial fire protection products, said that it expects to report fourth quarter earnings US$ 0.3-0.4 cents …

14 January 1999: Gentex Corp., a US-based maker of automatic-dimming rearview mirrors and commercial fire protection products, said that it expects to report fourth quarter earnings US$ 0.3-0.4 cents higher than the current analyst consensus estimate of US$ 0.19 cents per share. The company attributed the increase in net income to higher-than-expected unit shipments of its automatic-dimming rearview mirrors, improved gross margins on certain mirror products due to higher yields and certain year-end transactions and adjustments. Gentex reported net income of US$ 11.2 million, or US$ 0.15 cents per share, on revenues of US$ 52.6 million in the fourth quarter of 1997. “Fourth quarter sales came in better than expected,” said Gentex Executive Vice President Kenneth La Grand. “Stronger unit shipments, coupled with continued efficiency gains from our new coater, are the largest contributors to our improved performance.”

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