Welcome to our dedicated page for Gentex news (Ticker: GNTX), a resource for investors and traders seeking the latest updates and insights on Gentex stock.
Gentex Corporation (NASDAQ: GNTX), founded in 1974 and headquartered in Zeeland, Michigan, is a leading global electronics company renowned for its innovative product offerings in the automotive, aerospace, and fire protection industries. The company's core competencies include highly automated electronics, CMOS camera development, vacuum coatings, and glass bending and fabrication, making it a vertically integrated powerhouse in technology innovation.
Originally established to produce smoke-detection equipment, Gentex entered the automotive sector in 1982 with its first glare-control interior mirror and continued to pioneer with electrochromic technology in 1987. Today, automotive revenue constitutes about 98% of Gentex's total revenue, with 2023 sales reaching approximately $2.3 billion and 50.6 million mirrors shipped. The product mix consists of 63% interior and 37% exterior mirrors.
Gentex is a long-time supplier of electro-optical products, providing nearly every major automaker with connected-car technologies and advanced electronic features that enhance driver vision and safety. In the aerospace sector, the company supplies dimmable aircraft windows that optimize passenger experience. Its fire protection segment continues to innovate with products like the PLACE Smart Smoke/CO Detection system, a holistic suite of smart home safety devices.
Recent strategic moves include new R&D activities, collaboration agreements, and acquisitions aimed at diversifying its product lines. At the 2024 Consumer Electronics Show (CES), Gentex showcased groundbreaking advancements across several product categories, including the PLACE Smart Smoke/CO Detection system, ADASKY thermal imaging technology for automotive applications, and driver and in-cabin monitoring systems.
Gentex's latest product, the Full Display Mirror (FDM), integrates advanced cameras and dimmable technology to provide superior rearward visibility and enhanced driver safety. Additionally, its HomeLink Smart Home Solutions bridge the gap between car connectivity and home automation, offering a seamless ecosystem controlled via a single app.
Financially, Gentex reported net sales of $590.2 million for Q1 2024, the highest quarterly sales level in the company's history, driven by strong content growth and increased demand for its advanced features. The company continues to focus on margin recovery and cost optimization, aiming for a gross margin of 35%-36% by the end of 2024.
With a 50-year legacy of innovation and a robust portfolio of technologies, Gentex remains at the forefront of enhancing safety, vision, and connectivity across multiple industries.
Gentex (NASDAQ: GNTX) has announced its role as presenting sponsor of the Michigan International Auto Show, partnering with renowned custom car builder Ringbrothers to showcase their 1970 Plymouth 'Cuda, 'INFECTED.' The show will run from January 30 to February 2, 2025, at DeVos Place in Grand Rapids.
The custom vehicle, which debuted at the SEMA Show in Las Vegas, features an 807-horsepower Hellcrate Redeye engine and required 5,600 hours of build time. At the show, Gentex will also display its digital vision, connectivity, sensing, and dimmable glass technologies, while offering employment opportunities.
As Ottawa County's largest employer, Gentex has recently expanded into Grand Rapids with a satellite manufacturing facility and a tech-hub engineering center. The company continues to demonstrate its commitment to the local community through its support of the show and the Cars for Kids Gala benefiting Mary Free Bed Kids.
Gentex (NASDAQ: GNTX) is set to showcase its latest innovations at CES 2025, featuring advanced automotive and technology products. The company will debut next-generation dimmable glass technology, including new film-based electrochromic sunroofs and sun visors with integrated displays.
Key highlights include mirror-integrated driver monitoring systems, digital rearview mirrors with OLED displays and water-shedding camera technology, and an enhanced HomeLink car-to-home automation system compatible with Apple CarPlay and Android Auto. The company's Full Display Mirror is currently featured in over 29 automaker brands and 124 vehicles globally.
The exhibition will also showcase partnerships with ADASKY for thermal imaging, SAAM for air quality monitoring, PhotoniCare for medical devices, and Solace for wireless power transmission. Additional satellite displays will feature PLACE smart home safety products and eSight assistive technologies for the visually impaired.
Gentex (NASDAQ: GNTX), a provider of digital vision, connected car, dimmable glass, and fire protection technologies, has announced its upcoming fourth quarter and year end 2024 financial results release. The results will be disclosed on Friday, January 31, before market opens.
The company will host a conference call at 9:30am ET for the investment community to discuss the results. The call will be accessible via live audio webcast for the general public. Participants interested in asking questions during the call must register to receive dial-in numbers and a unique PIN. A webcast replay will be available approximately 24 hours after the call conclusion on the company's investor relations website.
Gentex (NASDAQ: GNTX) has announced the launch of its next-generation HomeLink car-to-home automation system at CES 2025. The updated system marks HomeLink's 30th anniversary, with an estimated 110 million equipped vehicles currently on the road.
The new version introduces significant upgrades including compatibility with Apple CarPlay and Android Auto, integration with smart home products from major brands like Amazon and Samsung Smart Things, and Wi-Fi-connected garage door operation via smartphone or vehicle-integrated apps.
The system combines radio frequency (RF) technology for entry devices, Long-Range Bluetooth for global compatibility, and cloud-based API integration for smart home devices. A new HomeLink app will provide programming instructions, device compatibility updates, and remote garage door activation through partnerships with manufacturers like Genie.
Gentex (NASDAQ: GNTX) has promoted Neil Boehm from Chief Technology Officer to Chief Operations Officer, while maintaining his CTO role. This strategic move aims to better align the company's business operations with its innovation and product strategies. Boehm, who joined Gentex in 2001, has served in various leadership roles including Vice President of Engineering before becoming CTO in 2018.
The promotion reflects Gentex's focus on operational excellence alongside technology and innovation as the company pursues ambitious growth targets. Boehm's background includes significant experience in product development, engineering, and international customer relations, including previous work at Johnson Controls with an expatriate assignment in Japan.
Gentex is a technology company specializing in electro-optical products for automotive, aerospace, fire protection, and medical industries, with expanding capabilities in vision systems, sensing, AI development, biometrics, and home automation.
Gentex (NASDAQ: GNTX) has announced a definitive agreement to acquire VOXX International in an all-cash transaction at $7.50 per share. The acquisition, expected to close in Q1 2025, will add $350-400 million in annual revenue and is projected to contribute $40-50 million in pro-forma annual EBITDA after implementing profitability improvements.
The strategic acquisition includes EyeLock® iris biometric technology and the Premium Audio Company, featuring brands like Klipsch®, Onkyo®, and Integra®. Gentex plans to leverage its high-volume manufacturing expertise to expand in consumer technology and connected home spaces. The deal includes post-closing tax benefits of $15-20 million in tax loss and credit carryforwards over 5-6 years.
VOXX International has announced a definitive merger agreement with Gentex , where Gentex will acquire VOXX in an all-cash transaction valued at approximately $196 million. Under the agreement, Gentex will purchase all outstanding VOXX shares for $7.50 per share, representing a 163% premium over the unaffected closing price of $2.85 on August 26, 2024.
The transaction was unanimously approved by VOXX's transaction committee and disinterested board members after a thorough sales process led by Solomon Partners. The Shalam family, holding approximately 57% of voting power, has agreed to vote in favor of the merger. The deal is expected to close during Q1 2025, subject to stockholder approval and regulatory clearances.
Gentex (NASDAQ: GNTX) has announced its fourth quarter 2024 cash dividend. The Board of Directors has declared a quarterly dividend of $0.12 per share, payable on January 22, 2025, to shareholders of record as of January 8, 2025. Gentex is a supplier of digital vision, connected car, dimmable glass, and fire protection technologies based in Zeeland, Michigan.
Gentex (NASDAQ: GNTX) is showcasing its latest automotive technologies at the SEMA Show 2024 in Las Vegas. The company's booth will host three major vehicle unveils: Ringbrothers' INVADR (a 1,246 HP 1987 Buick Grand National) and TUKA (a 1972 Chevy Blazer), along with Label Motorsports' Project Opsis (a Chevy Corvette Z06).
The company will display its automotive portfolio including car-to-home automation, connectivity, e-concierge, digital vision, and dimmable glass products. Featured technologies include HomeLink, Integrated Toll Module, Full Display Mirror, and a dimmable sun visor concept. The unveiling events will take place at 1 p.m. on November 5 at Gentex's booth #23889 in Central Hall.
Gentex (NASDAQ: GNTX) reported record Q3 2024 net sales of $608.5 million, a 6% increase from Q3 2023, despite light vehicle production declining 6% in primary markets. The company achieved a gross profit margin of 33.5%, up 60 basis points from Q2 2024. Net income rose 17% to $122.5 million, with earnings per diluted share increasing 18% to $0.53. The company repurchased 3.2 million shares during the quarter. Due to market conditions, Gentex revised its 2024 revenue guidance to $2.35-$2.40 billion and updated 2025 revenue estimates to $2.45-$2.55 billion.
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