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More on Gentex's Q2

Jul. 21, 2017 8:25 AM ETGentex Corporation (GNTX) StockBy: Niloofer Shaikh, SA News Editor
  • Gentex (NASDAQ:NASDAQ:GNTX) reports Automotive net sales rose 5% to $433.9M in Q2, due to 6% rise in auto-dimming mirror unit shipments .
  • Total auto-dimming mirror units +521 Y/Y to 9,788.
  • Gross margin rate squeezed 170 bps to 37.7% due to annual customer price reductions.
  • Operating margin rate declined 200 bps to 28.4%.
  • FY2017 Guidance: Net sales: $1.79B to $1.83B; Gross margin rate: 38.5% to 39%; Operating expense: $165M to $170M; Tax rate: 31.5% to 32.5%; Capex: $115M to $130M; D&A: $95M to $105M.

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