Gentex Q2 net income grows 47 percent
Auto parts supplier Gentex Corp. reported $76.7 million in net income with total revenue of $338.4 million for the second quarter.
Net income increased 47 percent from the second quarter of 2013. Gentex’s automotive division, which produces rearview mirrors and related parts, had total revenue of $329.6 million, up from $279.8 million in the year-earlier period, the company said in a statement today. Mirror shipments increased 12 percent as manufacturers increased orders for internal and external auto-dimming rearview mirrors, the company said in a statement.
Operating income increased 39 percent from $71.6 million in the second quarter of 2013.
“We are pleased to continue to see strong revenue growth in a relatively flat light-vehicle production environment,” Gentex CEO Fred Bauer said in the statement.
Gentex typically is one of the first publicly traded auto suppliers to report its quarterly results and often serves as a bellwether for the supply chain’s financial trends.