Gentex Corporation (GNTX) released its first quarter results on Tuesday, April 27, 2021. The company reported net earnings of $0.46 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 29 percent compared to the same period a year ago.
The company was founded in 1974 and is headquartered in Zeeland, Michigan. Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, and internationally. It operates through Automotive Products and Other segments.
Gentex Corporation's revenue decreased 7 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 37.89% for the first quarter compared to the same period in the previous year, and operating margins increased to 27.65% over the same period. Net earnings for past trailing twelve months were $367.31 million, down 9% from the prior year.
Moving on to the balance sheet, Gentex Corporation’s cash levels jumped 64% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 31.2% this past year. The current ratio for Gentex Corporation now stands at 4.53. The company decreased shares outstanding by 3.02%.
Shares of GNTX are currently trading around $35.74. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 23.77 and price to book ratio of 4.44.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Wednesday, April 28, 2021.