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January 29, 2013
08:07 EDTGNTXGentex sees Q1 net sales down 5%-10% compared to last year
For Q1, the company estimates that net sales will decline by approximately five to ten percent compared with the first quarter of 2012, based on IHS's January 2013 forecast for light vehicle production levels, as well as the company's 12-week customer order release schedule. Consensus $281.33M. The company said, "Unstable macroeconomic factors continue to be a concern, and especially the sovereign debt crisis in Europe, as it is the company's largest shipping destination. The company also continues to experience significant volatility in customer orders within the 12-week customer release schedule, and indicated that accurate forecasting remains very difficult in this environment. Based on the company's expected net sales for the first quarter of 2013, the company currently expects that its gross profit margin for the first quarter of 2013 will be slightly down sequentially compared with the gross profit margin of 34.2% reported in Q4, primarily due to annual customer price reductions."
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