Gentex Corp - GNTX STOCK NEWS

Gentex Corporation (NASDAQ: GNTX) has commenced shipments of its Bluetooth-enabled automatic-dimming mirror featuring HomeLink integrated buttons to Volkswagen (VWoA). This innovative product is designed to operate various RF and cloud-based smart home devices. HomeLink, the leading car-to-home automation system, is expected to be a popular option for consumers, launching with the 2022 Volkswagen Taos and expanding to other vehicles. Gentex continues to be a key supplier for the automotive industry, enhancing driver safety and convenience with advanced electronic features.

Gentex Corporation (NASDAQ: GNTX) announced that its 2021 Annual Meeting of Shareholders will now be held virtually due to ongoing COVID-19 regulations. The meeting is scheduled for May 20, 2021, at 4:30 p.m. E.T. Shareholders can participate by accessing this link and using their 16-digit control number. The meeting will address voting on nine director elections, the appointment of Ernst & Young LLP as auditors for 2021, and the advisory approval of executive compensation.

Gentex Corporation (NASDAQ: GNTX) reported Q1 2021 net sales of $483.7 million, increasing 7% year-over-year. Gross profit margin improved to 37.9%, a 340 basis point increase, and net income rose 27% to $113.5 million. Earnings per share reached $0.46, a 28% increase. However, production was hampered by part shortages, leading to an estimated $45 million revenue loss. Operating expenses decreased by 4% to $49.6 million. For 2021, Gentex maintains revenue guidance of $1.94 - $2.02 billion amid ongoing supply chain issues.

Gentex Corporation (NASDAQ: GNTX), based in Zeeland, Michigan, will release its First Quarter 2021 financial results on April 23 before market open. The company plans to host a conference call at 9:30 am ET to discuss these results, available to the public via live audio webcast. Interested participants can join using the dial-in number (844) 389-8658 with passcode 8652117. A replay of the webcast will be accessible approximately 24 hours after the event. For more information, visit Gentex's website.

Gentex Corporation (NASDAQ: GNTX) has declared a quarterly cash dividend of $0.12 per share, payable on April 21, 2021. Shareholders of record as of April 9, 2021 will receive this dividend. Gentex, based in Zeeland, Michigan, is a leading supplier of technologies such as automatic-dimming mirrors and fire protection products for the automotive and aviation industries. The company aims to reward its shareholders while continuing to develop innovative solutions in its market.

Gentex Corporation (NASDAQ: GNTX) reported strong financial results for Q4 and the full year 2020. Q4 net sales reached $529.9 million, a 19% increase from Q4 2019, driven by a 42% rise in Full Display Mirror® shipments. Quarterly net income hit a record $143.3 million, marking a 44% year-over-year rise, with earnings per share at $0.58, a 49% increase. Despite an overall annual revenue decline of 9% to $1.68 billion due to reduced global vehicle production, the company forecasts revenue growth for 2021 and 2022, with a guidance range of $1.94 - $2.02 billion for 2021.

Gentex Corporation (NASDAQ: GNTX) has announced its acquisition of innovative nanofiber sensing technology that detects various chemicals, including explosives and volatile organic compounds. This technology, acquired with the Utah-based startup Vaporsens, enhances Gentex's strong position in electro-optical products for automotive, aerospace, and fire protection sectors. The nanofiber sensors offer high sensitivity in detecting chemicals in parts per billion and trillion ranges, opening new applications across multiple industries.

Gentex Corporation (NASDAQ: GNTX) provided an update during CES 2021 regarding its product development, highlighting new partnerships and technology advancements. The company, a supplier of electro-optical products, noted significant growth in its product offerings, including the Full Display Mirror (FDM), which is now shipped to 8 automakers and over 50 vehicle models. Additionally, Gentex announced collaborations with PayByCar and Simplenight to enhance vehicle connectivity and driver experience. The company also continues to innovate in medical technologies and aerospace applications.

Gentex Corporation (NASDAQ: GNTX) has partnered with Simplenight to enhance mobile capabilities for drivers and vehicle occupants. This collaboration aims to provide seamless access to personalized entertainment and lifestyle bookings, integrating with existing connected vehicle technologies. Simplenight’s platform will be incorporated into Gentex's HomeLink systems, enabling real-time bookings for various services. Gentex's CTO highlighted the synergy between both companies, emphasizing the growing demand for mobile commerce in transportation.