Gentex (GNTX) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Gentex (GNTX)

GNTX 23.28

-1.2%

Dec 31 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: HiSpeed who wrote (135)	8/27/1998 4:59:00 PM
From: HiSpeed	Read Replies (1) of 196

Finally we get the report on how earnings will be affected from the GM strike. Also, GNTX announced a buyback. Will GNTX finally start ticking up? Here's the release: Gentex sees GM strikes cutting Q3 EPS ZEELAND, Mich., Aug 27 (Reuters) - Gentex Corp., which makes rearview mirrors and fire protection products, said Thursday that the General Motors Corp. strikes that were settled in July will cut $0.03 a share from Gentex's third quarter earnings. Gentex said it expects to make up for the lost third quarter revenues in the fourth quarter as GM makes up for production lost during the strikes. Gentex expects fourth quarter unit shipments of its automatic-dimming rearview mirrors to be up 25 to 30 percent from the same period a year ago. The company also said it will buy back up to 2 million of its shares in the next 12 months. ''The long-term, solid fundamentals of Gentex have not changed, and we believe that the recent decline in the company's stock price does not properly reflect those fundamentals,'' Kenneth La Grand, executive vice president, said in a statement. ''This buyback program signifies our confidence in the long-term prospects for the company,'' he said. Shares of Gentex closed down 5/8 at 11-3/8

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next