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Tuesday, Jul 24
2012, 12:15 PM
Auto parts maker Gentex (GNTX -26%) crashes after a disappointing Q2 report earlier this...
Auto parts maker Gentex (GNTX -26%) crashes after a disappointing Q2 report earlier this morning. Total revenue rose 15% Y/Y, but margins were compressed by sales price reductions and a poor product mix. The stock has been hammered all year, down over 50% since January due to a combination of lawsuits, weak European car sales, and the failure of of rear view camera legislation - of which GNTX is the largest supplier - which would have required it to be installed in all vehicles.