Gentex Provides Production and Revenue Guidance for 2021 and 2022
January 29, 2021 at 02:30 pm
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Gentex provides production and revenue guidance for 2021 and 2022. The company's current forecast for light vehicle production for 2021 and 2022 is based on the mid-January 2021 IHS market forecast for light vehicle production in North America, Europe, Japan, Korea and China. Based on this information, light vehicle production in the company's primary markets is expected to increase approximately 12% over the 2020 calendar year volumes. For calendar year 2022, the light vehicle production in the company's primary markets is forecasted to increase over the 2021 estimated volumes by approximately 3%. Based on these light vehicle production forecasts, it is providing guidance estimates for calendar year 2021 for each of the following areas. Revenue for 2021 is expected to be between $1.94 billion and $2.02 .
In addition, based on the mid-January 2021 light vehicle production estimates for calendar year 2022, the company is currently estimating that revenue for calendar year 2022 will grow between 4% and 8% above the current revenue estimates for calendar year 2021.
Gentex Corporation is a designer, developer, manufacturer, marketer, and supplier of digital vision, connected car, dimmable glass, and fire protection products. The Company provides automatic-dimming and non-automatic-dimming rearview mirrors and electronics for the automotive industry; dimmable aircraft windows for the aviation industry; and commercial smoke alarms and signaling devices for the fire protection industry. The Company's business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize proprietary electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. Within this business segment, the Company also designs, develops and manufactures various electronics that are value added features to the interior and exterior automotive rearview mirrors as well as electronics for interior visors, and overhead consoles.
GENTEX CORPORATION 
