29 October 1998: For the third consecutive year, and the fourth time in the past five years, Gentex Corporation, the world leader in the manufacture of automatic-dimming mirrors for the auto industry,…
29 October 1998: For the third consecutive year, and the fourth time in the past five years, Gentex Corporation, the world leader in the manufacture of automatic-dimming mirrors for the auto industry, has been added to Forbes magazine“s list of the “200 Best Small Companies in America.” The announcement comes in the magazine“s 2 November 1998 issue. Gentex previously was named on the list in 1994, 1996 and 1997. Forbes“ annual list of the “200 Best Small Companies in America” evaluates publicly traded, US-based companies with latest 12-month sales between US$ 5 million and US$ 350 million. They are then ranked according to their five-year average return on equity and various other measures of profitability and growth. To make the list this year, companies needed to have had a five-year average return on equity of at least 12%, and five-year average sales and earnings per share growth of at least 10%. Forbes ranked Gentex 10th in profits, 7th in market value, 62nd in sales, and 93rd in five-year average return on equity. The magazine also stated that Gentex“s five-year average return on equity is 21%, and that the company has posted five-year average sales and earnings per share growth of 30% and 34%, respectively. “It“s certainly an honor to be named one of the best small companies in America,” said Gentex Executive Vice President Kenneth La Grand. “But we“re particularly proud that we moved up 54 spots over last year“s ranking, especially considering the recent volatility that has characterized our industry and the market in general. For us, it confirms the strategies we have in place to maximize long-term shareholder value.” Gentex Corporation is an international company that provides products to the worldwide automotive industry and North American fire protection market. It develops, manufactures and markets proprietary electro-optic products, including interior and exterior electrochromic, automatic-dimming Night Vision Safety(TM) (NVS(R)) automotive rearview mirrors that dim in proportion to the amount of headlight glare from trailing vehicle headlamps, and an extensive line of fire protection products for commercial applications.