Gentex Corp.'s (GNTX) first-quarter net income edged down to $45.4 million, from $46.3 million a year earlier, while quarterly earnings per share remained flat at $0.32. On average, 12 analysts polled by Thomson Reuters expected earnings per share of $0.30 for the quarter. Analysts' estimates typically exclude one-time items.
For the first quarter of 2013, net sales decreased by seven percent to $269.5 million, from $290.7 million in the first quarter of 2012. Analysts estimated revenues of $268.13 million for the quarter.
For the second quarter of 2013, the company now sees gross profit margin to be in the same range as the gross profit margin of 34.7 percent reported in the first quarter of 2012 and 2013.
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