US-based Gentex Corp., a supplier of automatic-dimming mirrors, has developed and begun shipping automatic-dimming mirrors that will serve as the driver interface for OnStar.
In a recent company stat…
US-based Gentex Corp., a supplier of automatic-dimming mirrors, has developed and begun shipping automatic-dimming mirrors that will serve as the driver interface for OnStar. In a recent company statement, Gentex said that OnStar is the in-vehicle safety, security and information service that uses Global Positioning System satellite technology and wireless communication to link the driver and vehicle to a 24-hour operator network that provides real-time, person-to-person assistance. Advisers at the professionally staffed OnStar Center can relay directions, track a stolen vehicle, unlock car doors, summons emergency services, diagnose vehicle/engine problems and provide a host of other services, according to the company. “We couldn“t be more pleased that OnStar has decided to locate one of the system“s interfaces in the rearview mirror,” said Ken La Grand, Gentex“s executive vice-president. Locating OnStar in the rearview mirror also makes sense from an economics standpoint, Gentex said. It allows automakers to add OnStar to their vehicle lineups quickly, affordably and in a consistent location. It also saves space in the instrument panel and prevents interior redesigns. The OnStar system interface itself will consist of a series of three small buttons located on the rearview mirror“s chin. A fourth button will operate the mirror“s additional functions. “This new product has the potential to become significant incremental business for Gentex,” said La Grand. OnStar recently announced that its services would be included in nearly 1 million GM cars and trucks within the next 18 months. Meanwhile, the company achieved record revenues of US$ 65.5 million in the fourth quarter, a 2% increase over the fourth quarter of 1998. Net income in the 1999 fourth quarter increased slightly to US$ 17.2 million, compared with net income of US$ 17.1 million on revenues of US$ 64.3 million for the same period in 1998. Diluted earnings per share were constant at 23 cents in the fourth quarter of 1999 compared with the same period in 1998. For the year ended December 31, 1999, Gentex reported record net income of US$ 64.9 million, or 86 cents per share, on an 18% increase in revenues to US$ 262.2 million. The firm reported net income of US$ 50.3 million, or 68 cents per share, on revenues of US$ 222.3 million in 1998.