Sales and profits rebounded for Gentex Corp. in the third quarter because of cost-saving actions, new launches and some quick decision-making.
Gentex released its performance results Friday in what could be a positive bellwether for global suppliers.
The Zeeland, Mich., supplier of dimmable rearview mirrors and other electronic components posted net income of $117.1 million for the third quarter, a 5 percent increase from the same period a year earlier. Gentex posted its second-highest sales quarter in company history, with net sales of $474.6 million.
CEO Steve Downing said customer orders came back so quickly that it caught the company by surprise.
"In fact," Downing said in a statement releasing the financial data, "during the third quarter, volumes increased so quickly that it became very difficult for our operations team to keep up, but in typical Gentex fashion, the team pulled together, with many salaried employees volunteering to help…