Rear-view mirrors and fire protection products maker Gentex Corp. (GNTX) reported Wednesday a decline in second-quarter profit, reflecting a 31% decrease in sales. On a per share basis, however, earnings came in above analyst estimates by 4 cents.
For the second quarter, net income tumbled to $12.21 million or $0.09 per share from $26.86 million or $0.19 per share in the previous year.
On average, nine analysts polled by Thomson Reuters expected the company to report earnings of $0.05 per share in the second quarter. Analysts' estimates typically exclude special items.
Income from operations dipped 55% year-over-year to $16.1 million from $35.8 million in the second quarter of 2008.
Net sales for the period dropped 31% to $117.34 million from $170.49 million in the corresponding quarter last year. Six analysts were expecting revenue of $115.05 million in the second quarter.
Total auto-dimming mirror unit shipments shrank 33% to 2,610 units from 3,913 units. Automotive revenues decreased 32% to $112.2 million from $164.8 million, while fire protection revenues slid 10% to $5.1 million from the same period last year.
For the first six months of fiscal 2009, net income dwindled to $10.65 million or $0.08 per share from $57.31 million or $0.40 per share in the previous year.
Sales for the first half of the year declined sharply to $211.17 million from $348.46 million in the same period last year.
GNTX closed Tuesday's regular trading hours at $12.35 on the NASDAQ.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.