Rear view mirror maker Gentex made a fourth-quarter profit of US$30m compared with a $10.4 loss a year ago.
Net sales jumped 45% to $177.6m, passing the supplier’s expectation of 30% to 35% growth, while gross margin grew to 36.7% from 28.4%, as Gentex reduced fixed overhead costs.
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Automotive revenue grew 48%, as shipments of automatic-dimming mirrors rose 35%. In North America, shipments were up 21%, in conjunction with higher sales of light trucks.
The automatic-dimming rearview mirror maker also produces commercial fire-protection equipment and said it saw first-quarter revenue growing 80% to 90%. Analysts surveyed by Thomson Reuters projected a 70% jump in sales, to $159m.
