22 October 1998: Car mirror manufacturer Gentex Corp. said recently that its third quarter and nine-month results reported earlier were records despite the summer strike against General Motors Corp. ….
22 October 1998: Car mirror manufacturer Gentex Corp. said recently that its third quarter and nine-month results reported earlier were records despite the summer strike against General Motors Corp. . The company reported a 14% increase in net income to US$ 9.9 million or US$ 0.13 per share, on record revenues of US$ 49.6 million, up from US$ 8.7 million or US$ 0.12 per share on revenues of US$ 47 million in the year-ago period. The impact of the GM strike cut earnings for the nine months by about US$ 0.05 per share, Gentex said. “In addition, our gross profit margin was relatively stable for the third quarter of 1998 despite contractual annual price reductions on 1 August that affected a significant portion of our automotive mirror business,” said executive vice president Kenneth La Grand in a statement.