$GNTX
GENTEX CORP

2013 Q2 Form 10-Q Financial Statement

#000035581113000036 Filed on August 02, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $287.0M $280.3M
YoY Change 2.4% 15.33%
Cost Of Revenue $184.4M $187.5M
YoY Change -1.67% 19.12%
Gross Profit $102.6M $92.76M
YoY Change 10.63% 8.33%
Gross Profit Margin 35.76% 33.1%
Selling, General & Admin $12.15M $12.45M
YoY Change -2.41% 2.91%
% of Gross Profit 11.84% 13.42%
Research & Development $18.86M $22.79M
YoY Change -17.24% 12.83%
% of Gross Profit 18.38% 24.57%
Depreciation & Amortization $13.80M $12.40M
YoY Change 11.29% 15.89%
% of Gross Profit 13.45% 13.37%
Operating Expenses $31.02M $35.25M
YoY Change -12.0% 8.78%
Operating Profit $71.60M $57.51M
YoY Change 24.49% 8.01%
Interest Expense $600.0K $600.0K
YoY Change 0.0% 0.0%
% of Operating Profit 0.84% 1.04%
Other Income/Expense, Net $5.533M $3.167M
YoY Change 74.67% -18.78%
Pretax Income $77.13M $60.68M
YoY Change 27.11% 5.16%
Income Tax $25.03M $19.91M
% Of Pretax Income 32.45% 32.82%
Net Earnings $52.10M $40.77M
YoY Change 27.79% 5.97%
Net Earnings / Revenue 18.15% 14.55%
Basic Earnings Per Share $0.18 $0.28
Diluted Earnings Per Share $0.18 $0.28
COMMON SHARES
Basic Shares Outstanding 143.2M shares 143.7M shares
Diluted Shares Outstanding 144.0M shares 144.7M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $595.2M $421.7M
YoY Change 41.14% -10.03%
Cash & Equivalents $502.7M $375.7M
Short-Term Investments $92.50M $45.90M
Other Short-Term Assets $24.00M $32.80M
YoY Change -26.83% 28.12%
Inventory $116.0M $192.3M
Prepaid Expenses
Receivables $120.2M $129.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $855.5M $776.7M
YoY Change 10.14% 7.04%
LONG-TERM ASSETS
Property, Plant & Equipment $345.9M $326.8M
YoY Change 5.85% 40.44%
Goodwill
YoY Change
Intangibles $27.90M
YoY Change
Long-Term Investments $137.0M $137.6M
YoY Change -0.44% -3.57%
Other Assets $164.9M
YoY Change
Total Long-Term Assets $510.8M $477.3M
YoY Change 7.02% 22.89%
TOTAL ASSETS
Total Short-Term Assets $855.5M $776.7M
Total Long-Term Assets $510.8M $477.3M
Total Assets $1.366B $1.254B
YoY Change 8.95% 12.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $43.79M $53.50M
YoY Change -18.15% -15.48%
Accrued Expenses $60.09M $52.50M
YoY Change 14.46% 29.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $103.9M $106.0M
YoY Change -2.0% 2.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $103.9M $106.0M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $159.3M $159.3M
YoY Change 0.0% 5.99%
SHAREHOLDERS EQUITY
Retained Earnings $733.3M
YoY Change
Common Stock $453.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.207B $1.095B
YoY Change
Total Liabilities & Shareholders Equity $1.366B $1.254B
YoY Change 8.95% 12.57%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $52.10M $40.77M
YoY Change 27.79% 5.97%
Depreciation, Depletion And Amortization $13.80M $12.40M
YoY Change 11.29% 15.89%
Cash From Operating Activities $74.90M $40.40M
YoY Change 85.4% 48.53%
INVESTING ACTIVITIES
Capital Expenditures -$11.20M -$30.30M
YoY Change -63.04% 3.41%
Acquisitions
YoY Change
Other Investing Activities $6.000M $8.400M
YoY Change -28.57% -45.81%
Cash From Investing Activities -$5.200M -$22.00M
YoY Change -76.36% 59.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.500M -13.50M
YoY Change -29.63% 48.35%
NET CHANGE
Cash From Operating Activities 74.90M 40.40M
Cash From Investing Activities -5.200M -22.00M
Cash From Financing Activities -9.500M -13.50M
Net Change In Cash 60.20M 4.900M
YoY Change 1128.57% 13.95%
FREE CASH FLOW
Cash From Operating Activities $74.90M $40.40M
Capital Expenditures -$11.20M -$30.30M
Free Cash Flow $86.10M $70.70M
YoY Change 21.78% 25.13%

Facts In Submission

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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6311811 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
38701691 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
36036136 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
35628408 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
51633929 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
24067012 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
69424380 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
24671561 USD
CY2013Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
24044587 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
7439914 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
16030793 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
6250000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
31000000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
18968556 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
31899490 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
10803 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
15510 USD
CY2013Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
345931734 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
349938172 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
46007637 USD
CY2013Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18864182 USD
CY2012Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
22792503 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
37547758 USD
CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
733268066 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
676039254 USD
CY2012Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
280255548 USD
CY2013Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
286973898 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
570962310 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
556472867 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
23078454 USD
CY2013Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
12152166 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
24562967 USD
CY2012Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
12452571 USD
us-gaap Share Based Compensation
ShareBasedCompensation
8077955 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7991705 USD
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0268
CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0263
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0273
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0262
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4429
CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4451
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4596
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4579
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0087
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0109
CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0072
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0141
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
1190696 shares
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.98
us-gaap Share Based Goods And Nonemployee Services Transaction Capitalized Cost
ShareBasedGoodsAndNonemployeeServicesTransactionCapitalizedCost
193600 USD
CY2012Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y15D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y8D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y15D
CY2013Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y3D
CY2012Q4 us-gaap Short Term Investments
ShortTermInvestments
60802856 USD
CY2013Q2 us-gaap Short Term Investments
ShortTermInvestments
92516252 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
1120960556 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
1207009670 USD
CY2013Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
770292 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1243334 shares
CY2012Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1019028 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
649655 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
144854232 shares
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
144010625 shares
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
144741357 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
143537992 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
143240333 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
143610898 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
142888337 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
143722329 shares
CY2013Q2 gntx Fixed Income Securities Maturities Due Between One And Five Years
FixedIncomeSecuritiesMaturitiesDueBetweenOneAndFiveYears
0 USD
CY2013Q2 gntx Fixed Income Securities Maturities Due Within One Year
FixedIncomeSecuritiesMaturitiesDueWithinOneYear
92095839 USD
CY2013Q2 gntx Fixed Income Securities Total
FixedIncomeSecuritiesTotal
92095839 USD
CY2013Q1 gntx Increase In Cash Dividend Rate
IncreaseInCashDividendRate
0.01
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000355811
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
144259553 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
GENTEX CORPORATION
dei Trading Symbol
TradingSymbol
gntx

Files In Submission

Name View Source Status
0000355811-13-000036-index-headers.html Edgar Link pending
0000355811-13-000036-index.html Edgar Link pending
0000355811-13-000036.txt Edgar Link pending
0000355811-13-000036-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
gntx-20130630.xml Edgar Link completed
gntx-20130630.xsd Edgar Link pending
gntx-20130630_cal.xml Edgar Link unprocessable
gntx-20130630_def.xml Edgar Link unprocessable
gntx-20130630_lab.xml Edgar Link unprocessable
gntx-20130630_pre.xml Edgar Link unprocessable
gntx6302013-10q.htm Edgar Link pending
gntx6302013-exx311.htm Edgar Link pending
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