Gentex Corporation (NASDAQ:GNTX) reported its third quarter earnings results on Friday 23rd October 2020 before market open.
Key Numbers from third quarter earnings result
Quarterly income of $ 0.48 per share, from the revenue of $ 474.64 million
Analysts Estimated revenue of $ 451.25 million and $ 0.40 income per share
Earnings beat analysts estimates by $ 0.08 or 20.00 percent
Revenues outshined wall street view by $ 23.39 million or 5.18 percent
Earnings 9.09 percent compared with the same quarter last year
Revenues declined 0.65 percent versus third quarter of last year.
President and CEO Steve Downing, said, The third quarter began with a slow start as orders in July were far behind prior year actual results but as the quarter progressed our customer orders continued to grow and ultimately ended at the highest sales levels of the year. The change in sales volumes from the second quarter to the third quarter created numerous difficulties from an operations and planning perspective, but once again our team met the challenge, and is doing an unbelievable job to meet our customer order requirements with a very high level of operational efficiency.
