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Stock impact report

Gentex Reports First Quarter 2020 Financial Results

Gentex Corporation (GNTX) 
Last gentex corporation earnings: 4/24 08:00 am Check Earnings Report
US:NASDAQ Investor Relations: ir.gentex.com/investor-relations
Company Research Source: GlobeNewswire
ZEELAND, Mich., April 24, 2020 (GLOBE NEWSWIRE) -- Gentex Corporation (NASDAQ: GNTX), a leading supplier of digital vision, connected car, dimmable glass and fire protection technologies, today reported financial results for the three months ended March 31, 2020. 1st Quarter 2020 Summary Net Sales decline of 3% quarter over quarter versus a 24% quarter over quarter reduction in global light vehicle production volumesNovel coronavirus pandemic (COVID-19) negatively impacted first quarter net sales by approximately 9%Gross margin of 34.5% for the first quarter7.0 million shares repurchased during the quarter For the first quarter of 2020, the Company reported net sales of $453.8 million, which was a decrease of 3% compared to net sales of $468.6 million in the first quarter of 2019. The impact of the COVID-19 pandemic created shutdowns in the automotive industry in various parts of Asia, Europe, and North America, which resulted in an estimated negative impact on net sales of Show less Read more
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