ZEELAND, Mich. (AP) — ZEELAND, Mich. (AP) — Gentex Corp. (GNTX) on Friday reported first-quarter profit of $98.5 million.
The Zeeland, Michigan-based company said it had net income of 46 cents per share. Earnings, adjusted for asset impairment costs and severance costs, were 48 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The maker of automatic-dimming rearview mirrors and other products posted revenue of $675.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $647.2 million.
Gentex expects full-year revenue in the range of $2.8 billion to $2.9 billion.
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