Gentex Named to Forbes' '200 Best Small Companies in America' List
20 October 1997
Gentex Named to Forbes' '200 Best Small Companies in America' List
ZEELAND, Mich., Oct. 20 -- For the third time in the past
four years, Gentex Corporation , the world leader in the
manufacture of automatic-dimming mirrors for the auto industry, has been named
to Forbes magazine's prestigious list of the "200 Best Small Companies in
America." The announcement comes in the magazine's November 3, 1997, issue,
which is scheduled to hit the newsstands Thursday. Gentex previously was
named to this list in 1994 and 1996.
Forbes' annual list of the "200 Best Small Companies in America" ranks
publicly traded, U.S.-based companies according to their five-year average
return on equity, and also requires five-year average sales and earnings per
share growth of at least 15% and 8%, respectively. Forbes also screens out
highly leveraged firms, for instance if their debt exceeds their stockholders'
equity or their equity is negative.
Forbes ranked Gentex 25th in profits, 37th in market value, 80th in sales,
and 111th in five-year average return on equity. The magazine also states
that Gentex's five-year average return on equity is 20.5%, and that the
Company has posted five-year average sales and earnings per share growth of
35% and 47%, respectively. The Company is debt free.
"We are obviously very pleased to have again been named one of the best
small companies in America," said Gentex Chairman of the Board and Chief
Executive Officer Fred Bauer. "But lists like this track past performance,
and we can't rest on our laurels. Our commitments to customers, innovation,
new products, our employees -- these are what will ensure our continued
profitability and growth."
Gentex Corporation is an international company that provides high-quality
products to the worldwide automotive industry and North American fire
protection market. The Company develops, manufactures and markets proprietary
electro-optic products, including interior and exterior electrochromic,
automatic-dimming Night Vision Safety(TM) (NVS(R)) automotive rearview mirrors
that dim in proportion to the amount of headlight glare from trailing vehicle
headlamps, and an extensive line of fire protection products for commercial
applications. The Company's Automotive Products Group is ISO 9001 registered
and is in compliance with QS-9000, quality designations that soon will be
required to supply production or service parts to automakers.
Gentex was the first company in the world to successfully develop and
produce a commercial electrochromic mirror for the motor vehicle industry.
The Company is the leading supplier of these mirrors to the worldwide
automotive industry. Gentex customers include Audi, Bentley, BMW, Chrysler,
Daewoo, Fiat, Ford, General Motors, Gulf States Toyota, Honda, Hyundai,
Infiniti, Kia Motors, Lexus, Mercedes-Benz, Mitsubishi, Nissan, Opel, Porsche,
Rolls Royce and Southeast Toyota Distributors.
Founded in 1974, Gentex operates out of three facilities in Zeeland,
Michigan; an automotive sales and marketing office in Livonia, Michigan; an
automotive sales and engineering subsidiary in Germany; and five regional U.S.
sales offices for the Fire Protection Products Group. The Company is
recognized for its quality products, its application of world class
manufacturing principles, for its commitment to developing and maintaining a
highly skilled workforce, and for encouraging employee ownership of the
Company's stock.
SOURCE Gentex Corporation