Gentex Q4 Profit Rises - Quick Facts

(RTTNews) - Gentex Corp. (GNTX) reported that its net income for the fourth quarter of 2014 was $71.0 million, up 2% compared with net income of $69.9 million in the fourth quarter of 2013. Earnings per share were $0.24, unchanged from last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.26 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly net sales were $350.4 million, an increase of 7% compared to net sales of $326.8 million for the fourth quarter of 2013. Wall Street expected revenues of $368.18 million for the quarter. The increase was behind the forecast provided at the beginning of the quarter primarily due to end of year inventory adjustments at certain tier-one automotive customers, that are not expected to continue.

The company expects net sales to be in the range of $1.47 billion - $1.54 billion for fiscal 2015. Wall Street expected revenues of $1.53 billion for fiscal 2015.