Gentex has posted Q2 net sales of US$424m, up 12%, largely driven by a 13% quarter to quarter increase in auto-dimming mirror unit shipments as well as overall light vehicle production rises.
Income from operations for the second quarter of 2016 increased 19% to US$128.7m when compared to income from operations of US$108.1m for the same period last year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Net income for the second quarter rose 16% to US$86.5m compared with net income of US$74.6m last year.
Earnings per diluted share in the second quarter of 2016 increased 20% to US$0.30, compared with earnings per diluted share of US$0.25 in the second quarter of 2015.
Automotive net sales in the second quarter of 2016 were US$414.4m, an increase of 12% compared with sales of US$370.5m in the second quarter of 2015. This increase was driven by a 13% increase in auto-dimming mirror unit shipments quarter to quarter.
Founded in 1974, Gentex Corporation is a supplier of automatic-dimming rear-view mirrors and electronics to the automotive industry, dimmable aircraft windows for aviation markets and fire protection products.
