07/14 12:31 *GENTEX <GNTX.O> Q2 SHR $0.15 VS $0.11
ZEELAND, Mich., July 14 (Reuters) -
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
1998 1997 1998 1997
Net Sales $51,371,749 $44,873,334 $108,351,151 $86,775,456
Costs and Expenses
Cost of Goods
Sold 31,569,068 29,068,728 65,909,577 56,238,684
Research &
Development
2,711,514 2,406,945 5,290,743 4,484,212
Selling, General &
Administrative
3,055,195 2,779,137 6,091,208 5,469,528
Other Expense
(Income)
(1,971,546) (1,234,322) (3,523,178) (2,209,093)
Total Costs and
Expenses
35,364,231 33,020,488 73,768,350 63,983,331
Income Before Provision
for Income
Taxes 16,007,518 11,852,846 34,582,801 22,792,125
Provision for Income
Taxes 5,243,000 3,852,000 11,317,000 7,407,000
Net Income
10,764,518 8,000,846 23,265,801 15,385,125
Earnings Per Share
Basic 0.15 0.11 0.33 0.22
Diluted 0.15 0.11 0.32 0.21
Weighted Average Shares:
Basic 71,560,230 69,900,136 71,332,350 69,869,560
Diluted 73,807,749 71,624,684 73,584,918 71,571,266
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
Jun 30, Dec. 31,
1998 1997
ASSETS
Cash and Short-Term Investments $59,337,332 $41,131,383
Other Current Assets 31,769,393 34,788,053
Total Current Assets 91,106,725 75,919,436
Plant and Equipment - Net 57,391,333 42,238,885
Long-Term Investments and Other Assets
75,661,031 71,624,526
Total Assets 224,159,089 189,782,847
LIABILITIES AND SHAREHOLDERS' INVESTMENT
Current Liabilities 15,298,275 14,591,224
Long-Term Debt 0 0
Deferred Income Taxes 2,875,735 1,986,446
Shareholders' Investment 205,985,079 173,205,177
Total Liabilities & Shareholders'
Investment 224,159,089 189,782,847
Note: All earnings per share amounts and weighted daily
average shares outstanding reflect 2-for-1 stock split
effective on June 22, 1998. |
