UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 12, 2013
GENTEX CORPORATION
(Exact name of registrant as specified in its charter)
| Michigan | 0-10235 | 38-2030505 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 600 North Centennial Street Zeeland, Michigan |
49464 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (616) 772-1800
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 7 - Regulation FD
Item 7.01 Regulation FD Disclosure.
Gentex Corporation made a presentation to certain investors and analysts on September 12, 2013. A copy of the presentation is attached as Exhibit 99.1 to this Current Report.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits |
| 99.1 | Gentex Investor & Analyst Meeting Presentation, dated September 12, 2013. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Dated: September 12, 2013 | GENTEX CORPORATION | |||||
| (Registrant) | ||||||
| By | /s/ Fred Bauer | |||||
| Fred Bauer | ||||||
| Its Chairman of the Board and | ||||||
| Chief Executive Officer | ||||||
Exhibit 99.1
Different by Design
Gentex Investor & Analyst Meeng
September 12, 2013
Integrating automotive safety technology in ways others can’t…
Introduction
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? Welcome ! |
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? Housekeeping |
–? Refreshments
–? Restrooms
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? Agenda |
–? Analyst Meeting Focus: Product Update
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? Product Presentation – Deming Conference Room |
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? Product Demonstration – Breakout Tour |
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? The Future – Deming Conference Room |
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? Q&A |
Gentex
Con?dena l
Safe Harbor Statement
This Gentex analyst meeng contains forward-?looking statements within the meaning of Secon 27A of 1933, as amended, and Secon 21E of the Securies Exchange as amended, that are based on management’s beliefs and Act, informaon currently available to and are also based on assumpons and analyses made by us in light us, and percepon of historical trends, current condions and expected future developments, as well as other factors we believe are appropriate under the circumstances. whether actual results and developments will conform to our However, expectaons, esmates and projecons about the global automove the economy and the Company itself is industry, to a number of risks, assumpons and uncertaines, many of which are beyond our and the affects can be difficult control, predict. Words like “ancipates,” “believes,” “confident,” “esmates,” “expects,” “forecasts,” “hopes”, “likely,” “plans,” “projects,” “opmisc,” and “should,” and variaons of such words and similar expressions idenfy forward?statements. These statements do not guarantee future performance and involve uncertaines, and assumpons certain risks,that are difficult to predict with regard expense, likelihood and degree of occurrence. to ming, These risks include, without limitaon, the pace of economic acvity Asia and in the United States, employment and other general economic in Europe, condions; worldwide automove producon; the maintenance of the Company’s market share; the ability including the ability to achieve purchasing and manufacturing control and leverage fixed overhead costs, cost reducons, maintain margins; the ability to control R&D and S,G&A expenses. E, Addionally, these risks include compeve pricing pressures; the mix of products purchased by customers; the market for and the success of certain products (e.g. Rear Camera Display, SmartBeam® and other camera-?based driver-?assist and lighng-?assist products), including vehicle model penetraon and opon take rates; changes in markeng strategies; consumer confidence and the customers’ impact on producon volume levels; intellectual property ligaon risk; the ability to connue to make innovaons; customer inventory management; scheduled producon shutdowns at producon facilies; our customers’ currency fluctuaons; interest rates; equity prices; the financial strength/stability of the Company’s customers Tier 1 suppliers); potenal impact of supply chain disrupons including but not limited to those caused d any other part shortages; potenal restructuring/sale of OEM business segments or suppliers; potenal their Tier 1 suppliers) bankruptcies; and other risks idenfied in the Company’s other filings with Commission. Therefore, actual results and outcomes may materially differ from what is expressed or the Company undertakes no obligaon to amend, or clarify forward-?looking statements, whether as a result of new update, informaon, future events, or otherwise. Gentex Con?dena l
Update Our Understanding 8?COMMON MISCONCEPTION: “The company’s end market appears to be penetrated.” 8?ACTUAL: Gentex Global Average Gentex Global Average Applicaon Rates -? 2001 Applicaon Rates -? 2012 Gentex Con?dena l
Update Our Understanding 8?COMMON MISCONCEPTION: “Revenues are dependent on a small number of customers.” 8?ACTUAL: Top Customers % of total revenues as of 12.31.12 Toyota 14% VW Group 14% Hyundai/Kia 11% Mercedes 11% GM 10% 22 OEM Automakers Gentex Con?dena l
Update Our Understanding 8?COMMON MISCONCEPTION: “Revenue is dependent on key plaorms like the GM GMT900, Cadillac, Ford Expedion / Navigator, Chrysler Grand Cherokee, and Chrysler 300.” 8?ACTUAL: Gentex Con?dena l
Update Our Understanding 8?COMMON MISCONCEPTION: “E, R&D as a percentage of sales is lower than expected, apparently driven by reduced investment in the business.” 8?ACTUAL: E, R&D expenses were up in Q1, 2013, versus Q4, 2012 E, R&D expenses were up in Q2, 2013, versus Q1, 2013 Gentex Con?dena l
Update Our Understanding The Company believes its exisn g and planned facilies are suitable, adequate, and have the capacity necessary for current and near-?term planned business. Gentex Con?dena l
Update Our Understanding Riley Street Facility Finished Goods Product Centennial East Facility Inside Mirrors Distribution Center Validation Inside Mirrors 120,000 sq. . Connector 10,000 sq. . Project Chilled Water Plant James Street Facility State Street Facility Centennial West Facility Electronic Assembly Outside Mirrors Micro-Electronics, (3 Miles West of Main Campus) Dimmable Aircraft Windows Gentex Con?dena l
Update Our Understanding Gentex Con?dena l
Table of Contents Different by Design Strategy Product Update Product Demonstration The Future Q & A Gentex Con?dena l
Different by Design Strategy Gentex Con?dena l
The Gentex Challenge
The Automaker Challenge •? Effective integration of electronic content –?Displays, transceivers, telematics, microphones, lighting, driver-assist, and more –?Need to balance safety, cost, aesthetics, performance Gentex Con?dena l
The Gentex Solution •? Feature •? Scalable Delivery Integration Mechanism Platform More Than a Mirror •? Electronic •? System Module Savings Gentex Con?dena l
The Gentex Advantage
Why the Mirror? •? Location –? In driver’s line-of-sight –? Easy adjustment and interaction –? Surrounded by glass –? Superior view of the Mirror Vehicle Feature Descripons road Trim Level –? Consistent location Base Auto-?dimming mirror across vehicle Middle Auto-?dimming mirror with platforms compass and HomeLink Upper Auto-?dimming mirror with compass, microphone, RCD, and HomeLink Gentex Con?dena l
Features Displays Telematics Glare Control HomeLink Compass More Than a Mirror Microphones Driver Assist Lighting Assist Interior Lighting HomeLink® and the HomeLink House are registered trademarks of Inc. Johnson Controls, Gentex Con?dena l
Different by Design Product Update Gentex Con?dena l
EC—Electrochromics (Auto-Dimming) •? Feature/Benefits: –? More glare today than ever –? New brighter headlamp technology –? Higher mounted headlamps on trucks and SUVs –? Improves reaction times and stopping distances –? Makes nighttime driving safer and more enjoyable –? Electronic platform for additional electronic features Gentex Con?dena l
Outside EC Mirror with Features Turn Signal Slide Blind Zone Alert Gentex Con?dena l
Interior Lighting •? Feature/Benefits: –? LED map lights or soft cabin ambient lighting –? No windscreen reflection when “on” as mirror lighting is below driver’s line-of-sight –? No need to tool separate overhead modules for each vehicle Gentex Con?dena l
Compass •? Features/Benefits: –? Highly accurate digital compass –? Ergonomic, easy-to-read display –? Driver-preferred location Compass Transducer Gentex Con?dena l
Microphone •? Feature/Benefits: –? Mirror-integrated interface –? Hands-free microphones –? Consistent location for quick-to-market, cross-car-line application –? Button backlighting for easier nighttime operation Gentex Con?dena l
Displays •? Feature/Benefits: –? Optimal location –? Easy, cost-effective integration –? Numerous display types –? Numerous display options •? Video applications •? Information delivery •? Alerts & notifications •? Menus and owner’s manual information Gentex Con?dena l
Cameras – Lighting & Driver Assist •? Feature/Benefits: –? SmartBeam family of products for automatic headlamp performance •? High Beam Assist •? Dynamic Forward Lighting •? Motorway Detection •? Village Detection •? Tunnel Detection •? Navigation Fusion •? Driver Assist Gentex Con?dena l
HomeLink® •? Feature/Benefits: – 3-button radio frequency transmitter for operating garage doors, estate gates, home lighting, and more . . . Gentex Con?dena l
Update Our Understanding Gentex Global Average Applicaon Rates Gentex Con?dena l
Update Our Understanding 8?COMMON MISCONCEPTION: “HomeLink is being replaced by smart phone apps.” 8?ACTUAL: No see product demonstraon Gentex Con?dena l
Different by Design More Than a Mirror Product Demonstration Gentex Con?dena l
Different by Design The Future Gentex Con?dena l
Update Our Understanding Gentex Con?dena l
EC—Electrochromics (Auto-Dimming) •? The Future –? Frameless –? Popular new styling –? New glass –? New chemistry –? New mechanical design –? New displays –? All electronic features are new for Frameless Gentex Con?dena l
Outside EC Mirror with Features •? The Future w/o F2C w/ F2C Gentex Con?dena l
Microphone •? The Future –? Digital Microphones –? Improving Signal – To – Noise Ratio –? Continuously smaller packaging Gentex Con?dena l
Interior Lighting and Displays •? The Future –? New LED Lighting –? New Displays –? New Applications Gentex Con?dena l
Cameras – Lighting & Driver Assist • The Future – SmartBeam family of products for automatic headlamp performance • High Beam Assist • Dynamic Forward Lighting • Motorway Detection • Village Detection • Tunnel Detection • Navigation Fusion • Driver Assist • Matrix Beam • Fog Detection • Multiple imager systems ?dena l
HomeLink® •? The Future – HomeLink V – Global solution – Two way communication – Integration with displays – Gentex electronic applications outside the mirror—NEW Display Integraon Gentex Con?dena l
Different by Design Q&A Gentex Con?dena l