GENTEX CP
			Symbol			GNTX

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Gentex Reports Third Quarter Financial Results

2009-10-21 08:04 ET - News Release

ZEELAND, MI -- (MARKET WIRE) -- 10/21/09

Gentex Corporation (NASDAQ: GNTX), the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and commercial fire protection products, today reported results for the third quarter and nine months ended September 30, 2009.

For the third quarter of 2009, the Company's net sales increased by two percent to $155.7 million compared with $153.1 million in the third quarter of 2008. The gross profit margin increased on a year-over-year basis from 30.5 percent in the third quarter of 2008 to 34.9 percent in the third quarter of 2009, primarily due to purchasing cost reductions, reduced fixed overhead costs, and improved product mix, partially offset by the impact of annual customer price reductions.

The Company's net sales increased by 33 percent on a sequential, quarter-to-quarter basis, from $117.3 million in the second quarter of 2009 to $155.7 million in the third quarter of 2009. The gross profit margin of 34.9 percent in the third quarter of 2009 increased sequentially from 30.5 percent in the second quarter of 2009. The sequential increase in the gross margin was primarily due to the Company's increased ability to leverage fixed overhead costs due to the 33 percent increase in net sales.

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