Edition:
United States

Gentex Reports Q3 Results


Friday, 19 Oct 2018 08:00am EDT 

Oct 19 (Reuters) - Gentex Corp ::GENTEX REPORTS THIRD QUARTER 2018 FINANCIAL RESULTS.Q3 EARNINGS PER SHARE $0.42.Q3 EARNINGS PER SHARE VIEW $0.42 -- THOMSON REUTERS I/B/E/S.Q3 SALES $460.3 MILLION VERSUS I/B/E/S VIEW $467.9 MILLION.ACTUAL VEHICLE PRODUCTION LEVELS CAME IN CONSIDERABLY LOWER THAN ANYONE EXPECTED IN Q3.CURRENTLY EXPECTS ADDITIONAL COST INCREASES OF BETWEEN $2.5 MILLION AND $3 MILLION FOR Q4 OF 2018.GENTEX - SEES 2018 NET SALES $1.854 BILLION - $1.872 BILLION.TOTAL COST INCREASES RELATED TO ALL ENACTED TARIFFS ARE EXPECTED TO BE APPROXIMATELY $5.5 MILLION TO $6 MILLION FOR Q4 OF 2018.GENTEX - SEES 2018 CAPEX $95 MILLION - $105 MILLION.AS WE MOVE INTO Q4, WE ARE EXPECTING TO REMAIN IN A TOUGH LIGHT VEHICLE PRODUCTION ENVIRONMENT.GENTEX - MAKING NO CHANGES TO ANNOUNCED 2019 REVENUE ESTIMATES.FORECASTS FOR LIGHT VEHICLE PRODUCTION FOR Q4 AND FULL YEAR OF 2018 ARE BASED ON IHS MARKIT'S OCTOBER 2018 FORECASTS.GENTEX - SEES 2018 GROSS MARGIN (INCLUDES ADDITIONAL TARIFF COSTS) 37.5 PCT - 38.0 PCT.SEES Q4 TOTAL LIGHT VEHICLE PRODUCTION 13.37 MILLION.SEES CALENDAR YEAR 2018 TOTAL LIGHT VEHICLE PRODUCTION 52.39 MILLION.GENTEX - QTRLY GROSS MARGIN OF 37.6 PCT INCLUDING NEGATIVE TARIFF IMPACT OF 60 BASIS POINTS.FY2018 REVENUE VIEW $1.88 BILLION -- THOMSON REUTERS I/B/E/S. 

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16 Aug 2019