Gentex Corp fourth-quarter profit almost flat at $88.76 mn compared with the year ago period
Source: IRIS | 28 Jan, 2017, 12.12PM
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 Gentex Corporation (GNTX) has reported a marginal increase of 0.41 percent in profit for the quarter ended Dec. 31, 2016. The company has earned $88.76 million, or $0.31 a share, compared with $88.40 million or $0.30 a share, a year ago. Revenue during the quarter grew 3.53 percent to $419.91 million from $405.59 million in the previous year period. Gross margin for the quarter expanded 4 basis points over the previous year period to 40.29 percent. Total expenses were 69.53 percent of quarterly revenues, up from 68.77 percent for the same period last year. That has resulted in a contraction of 76 basis points in operating margin to 30.47 percent. Operating income for the quarter was $127.94 million, compared with $126.66 million in the previous year period. Gentex Corp projects revenue to be in the range of $1,780 million to $1,850 million for financial year 2017. Working capital increases
Gentex Corporation has recorded an increase in the working capital over the last year. It stood at $1,005.13 million as at Dec. 31, 2016, up 17.83 percent or $152.13 million from $853 million on Dec. 31, 2015. Current ratio was at 7.71 as on Dec. 31, 2016, up from 7.51 on Dec. 31, 2015.
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