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Gentex: Long-Term Story Intact After Q4 Miss, Short-Term Weakness Possible

Gentex's (NASDAQ:GNTX) Q4 report was disappointing as the company missed both EPS and revenue expectations. This was largely a consequence of end-of-year inventory adjustments of certain customers which the company does not expect to continue. Q4 revenue increased 7.2% Y/Y to $350.4 million, missing analyst estimates by $17.8 million. EPS was flat Y/Y at $0.24, missing views for $0.26. Gross margin was down 100 basis points Y/Y to 38.4% due to "higher than expected manufacturing costs related to new technology launches." FY 2014 metrics were better, with revenues rising 17.4% to $1.38 billion and EPS increasing 26.5% to $0.98. The company guided 2015 revenue between $1.47 billion and $1.54 billion and gross margin between 38.5% and $39.5%. Revenue guidance was below analyst estimates, which were at the top end of the management guidance at the…