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.
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.