Gentex Corp. - GNTX STOCK NEWS

Gentex Corporation (GNTX) declares a quarterly cash dividend of $0.12 per share, payable on April 17, 2024, to shareholders of record on April 5, 2024.

Gentex Corporation (NASDAQ: GNTX) launches HomeLink Smart Home Solutions at the International Builders’ Show, aiming to integrate car connectivity and home automation. The company partners with Alarm.com to offer a seamless user experience and plans to introduce the HomeLink Smart Home Connector for enhanced control. Gentex expands its product lineup to include smart home packages for new home construction and direct consumer options.

Gentex Corporation (NASDAQ: GNTX) reported record net sales for the fourth quarter and calendar year 2023, with impressive increases in revenue, gross profit margin, income from operations, net income, and earnings per diluted share. The company also achieved significant improvements in gross margin, despite inflationary cost pressures. Operating expenses increased due to staffing and engineering-related professional fees. The effective tax rate for the fourth quarter of 2023 was 13.9%, leading to a net income of $116.9 million and earnings per diluted share of $0.50. For calendar year 2023, the net sales reached $2.30 billion, representing a 20% increase compared to 2022. Gentex's revenue outperformance in 2023 versus the underlying market was driven by growth in Full Display Mirror® shipments and exterior auto-dimming mirror unit shipments. The Company's revenue guidance for 2024 and 2025 indicates confidence in continued revenue growth. Gentex also plans to focus on gross margin improvement, aiming for a 35 to 36 percent gross margin profile by the end of 2024.

Solace Power Inc., a global leader in wireless power technology, has been recognized as one of the best places to work in Atlantic Canada in 2024 by Atlantic Business Magazine. This accolade reflects the company's exemplary work environment and HR practices, placing them among the top twenty-four companies in the region.

Gentex Corporation (GNTX) showcases new developments in technology and innovation at CES 2024, including a soft launch of PLACE, a new residential, smart-home sensing product, and the debut of Gentex partner ADASKY’s thermal imaging solutions with forward- and rearward-facing applications.

ADASKY (NASDAQ: ADKY) and Gentex to unveil thermal imaging for rear vision in a digital rearview mirror at CES 2024

Gentex Corporation (GNTX) announces partnership with Solace Power for wireless power transfer technology development and commercialization across various industries

Gentex Corporation (GNTX) acquires eSight, a leading provider of vision enhancement technologies, to develop and manufacture next-gen mobile electronic eyewear for people with visual impairments. Gentex, known for connected-car technologies, will showcase eSight's technology at CES 2024.

Gentex Corporation (NASDAQ: GNTX) will release its fourth quarter and year end 2023 financial results on Friday, January 26, 2024, before the market opens. The Company will host a conference call for the investment community at 9:30am ET to discuss the results. Participants can register for the call and join the live audio webcast to ask questions or join the listen-only webcast. A webcast replay will be available approximately 24 hours after the call.