Gentex, Dec. 5, 2008
Updated: Thursday, 29 Jan 2009, 11:41 AM EST
Published : Thursday, 29 Jan 2009, 11:41 AM EST
ZEELAND, Mich. (WOOD) - Zeeland-based auto mirror maker Gentex is calling their last quarter the toughest in a quarter-century.
The company posted its first loss since 1984.
Net sales declined by 28 percent during the fourth quarter of 2008 to $122.3 million compared with $170.7 million in the fourth quarter of 2007.
The company's chairman and CEO Fred Bauer says like everyone else, they're searching for guidance on where the "bottom" is and when they can expect to see the market recover.
The economic downturn also forced Gentex to cut 360 workers last last year.