Gentex Earnings: Exceeds Wall Street Estimates

Gentex Corp. (NASDAQ:GNTX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.82%.

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Gentex Corp. Earnings Cheat Sheet

Results: Net income decreased -2.15% to $39.6 million (28 cents per diluted share) in the quarter versus a net gain of $40.47 million in the year-earlier quarter.

Revenue: Decreased 0.02% to $260.3 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Gentex Corp. reported adjusted net income of 28 cents per share. By that measure, the company beat the mean analyst estimate of $0.26. It beat the average revenue estimate of $258.11 million.

Quoting Management: “We are quite pleased to report that our gross profit margin improved sequentially in the fourth quarter of 2012, despite a sequential decrease in net sales,” said Gentex Chairman of the Board and Chief Executive Officer Fred Bauer…

…We are also demonstrating continued positive efficiencies we are experiencing within our operating expenses.¬†Our entire management team has been actively working on cost-reduction initiatives and we are pleased with the results to date.”

Key Stats:

Revenue decreased 2.96% from $268.25 million in the previous quarter. Net income decreased 5.44% from $41.88 million in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.3 to a profit $0.29. For the current year, the average estimate is a profit of $1.15, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials.)