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gentex corp (GTX) Details

Gentex Corporation is engaged in designing, developing, manufacturing, and marketing automatic-dimming rearview mirrors and electronics for the automotive industry; variable dimmable aircraft windows for the aviation industry; and commercial smoke alarms and signaling devices for the fire protection industry worldwide. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors; automotive electronics; and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers. It also provides photoelectric smoke detectors and alarms, photoelectric smoke detectors and visual signaling alarms, photoelectric smoke detectors and electrochemical carbon monoxide alarms, electrochemical carbon monoxide detectors and alarms, audible and visual signaling alarms, and bells and speakers for use in fire detection systems in office buildings, hotels, and other commercial establishments, as well as in residential applications. The company sells its fire protection products directly and through manufacturer representative organizations to fire protection and security product distributors, and electrical wholesale houses, as well as to the original equipment manufacturers of fire protection systems. Gentex Corporation was founded in 1974 and is headquartered in Zeeland, Michigan.

3,801 Employees
Last Reported Date: 02/26/14
Founded in 1974

gentex corp (GTX) Top Compensated Officers

Founder, Executive Chairman and Chief Executi...
Total Annual Compensation: $583.3K
Chief Financial Officer, Vice President of Fi...
Total Annual Compensation: $230.9K
Vice President of Operations
Total Annual Compensation: $248.7K
Senior Vice President, Secretary and Director
Total Annual Compensation: $429.3K
Compensation as of Fiscal Year 2013.

gentex corp (GTX) Key Developments

Gentex Corp. Expands New Product Offerings

Gentex Corporation announced its all-new Full Display Mirror, an intelligent rear vision system that uses a custom, externally mounted camera and mirror-integrated video display to optimize a vehicle's rearward view. The system will be on display at the 2015 CES (Consumer Electronic Show) January 6 to 9 in Las Vegas. In addition, the company will demonstrate new frameless mirror designs, HomeLink vehicle-to-home automation modules, and SmartBeam(r) proprietary vision systems for ADAS (advanced drivers assistance system) applications. The new Gentex rear vision system consists of a hybrid Full Display Mirror and a custom, Gentex-designed camera engineered specifically for automotive vision. The mirror offers bi-modal functionality. In mirror mode, the product functions as a standard rearview mirror. During nighttime driving, digital light sensors talk to one another via a microprocessor to automatically darken the mirror when glare is detected. But with the flip of a lever, the mirror enters display mode, and a clear, bright, LCD display appears through the mirror's reflective surface, providing a wide, unobstructed rearward view. The two modes are essential, because should the camera or display become non-operational, the product fails safe and operates as a standard mirror. The driver can also switch between modes to accommodate usage preferences for various weather conditions and driving tasks. Automotive video for rear vision requires a camera with high dynamic range, which is the ratio between the brightest and darkest areas of a given scene. The challenge is to display the details in the darkest and brightest areas of a given scene simultaneously, without causing the display to washout due to bright light sources. The new Gentex camera meets this challenge in a unique way, with a proprietary CMOS (complementary metal oxide semiconductor) imager that delivers unprecedented dynamic range. The imager allows each individual camera pixel to choose its own exposure, self-adjusting so that the brightest and darkest areas of any given scene are clear and visible. Gentex is a long-time leader in the automotive vision arena and supplies products to nearly every major automaker around the world. In 2004, the company launched SmartBeam, which uses a custom, mirror-integrated CMOS imager to automate and optimize high-beam usage. SmartBeam is now a family of camera products with features that include high-beam assist, dynamic forward lighting with high beams constantly on, LED matrix beam, and a variety of specific detection applications including tunnel, fog, and such ADAS functions as lane, object, and collision detection. Gentex has long been integrating its camera systems to optimize performance by fusing with other systems on the vehicle, including lighting, radar, navigation, steering and related modules provided by other suppliers. This enables Gentex to provide its automaker customers with a highly customizable solution that meets their unique needs and specifications. Over the years, Gentex has also cultivated an expertise in camera styling and vehicle integration. SmartBeam cameras are typically integrated into a pod affixed to the rearview mirror, but in the case of rear vision systems, Gentex can integrate the camera into the rear spoiler or trunk lid, a roof-mounted shark-fin antenna, or the CHMSL (center high-mounted stop lamp). The cameras are ultra-lightweight, aerodynamically optimized, and can be heated and coated for better performance in adverse weather conditions.

Gentex Corporation Declares Quarterly Cash Dividend, Payable on January 20, 2015

Gentex Corporation announced that its Board of Directors recently declared a quarterly cash dividend of $0.16 (16 cents) per share that will be payable on January 20, 2015, to shareholders of record of the common stock at the close of business on January 7, 2015.

Gentex Corp. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2014

Gentex Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company's net sales were $350,913,912 compared to $288,621,626 a year ago. Income from operations was $103,205,827 compared to $73,656,246 a year ago. Income before income taxes was $103,992,607 compared to $81,043,254 a year ago. Net income was $72,336,883 compared to $55,520,961 a year ago. Diluted earnings per share were $0.49 compared to $0.38 a year ago. Capital expenditures were $19.7 million compared with $14 million in the third quarter of 2013. For the nine months, the company's net sales were $1,025,090,220 compared to $845,094,493 a year ago. Income from operations was $300,218,811 compared to $209,106,156 a year ago. Income before income taxes was $311,306,700 compared to $223,926,105 a year ago. Net income was $217,629,700 compared to $153,048,925 a year ago. Diluted earnings per share were $1.49 compared to $1.06 a year ago. For the fourth quarter, the company estimates that net sales will increase 10% to 15% compared to the fourth quarter of 2013 and estimates the gross profit margin to be 39.5% to 40%. The company expects that the effective tax rate in the fourth quarter will be approximately 32.5% based on current tax laws. For the full year of 2014, the company is lowering its guidance for 2014 capital expenditures from $75 million to $85 million down to $70 million to $80 million, primarily due to slower-than-expected timing of spending related to its previously announced manufacturing and distribution facility project. The company previously estimated that $5 million to $10 million would be expended in 2014, but the company now estimates that approximately $2 million to $5 million will be expended in 2014, with the balance to be expended in 2015 and 2016. The company continues to expect that depreciation and amortization will be between $80 million and $85 million.


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