Gentex Corporation GNTX reported second-quarter 2021 earnings of 36 cents per share, missing the Zacks Consensus Estimate of 43 cents but turning around from loss of a penny per share incurred in the corresponding quarter of 2020. The earnings miss was due to lower-than-anticipated auto-dimming mirror shipments in North America, which in turn resulted in weaker-than-expected revenues.This Zeeland-based automotive products supplier reported net sales of $428 million, lagging the Zacks Consensus Estimate of $463 million. Nonetheless, the top-line figure increased 86% year over year. The company recorded gross margin of 35.4% for the reported quarter, higher than the year-ago quarter’s 19.1% on increased year-over-year sales.Gentex Corporation Price, Consensus and EPS Surprise Gentex Corporation price-consensus-eps-surprise-chart | Gentex Corporation QuoteSegmental PerformanceThe Automotive segment’s net sales — which have the highest contribution to Gentex’s revenues — totaled $420.6 million for the second quarter, surging 89% year over year but missing the Zacks Consensus Estimate of $472 million. For the quarter under review, auto-dimming mirror shipments in the North America market climbed 171% from the prior-year level to 3,370,000 units but fell short of the consensus mark of 3,478,000 units. Shipments rose 76% year over year in the international markets to 7,052,000 units. Total shipments also jumped 98% year over year to 10,422,000 units.Other net sales, which include dimmable aircraft windows and fire protection products, dropped 6% from the year-ago quarter to $7.4 million. Dimmable aircraft window sales also plummeted 65% year over year for the April-June period. Gentex expects dimmable aircraft window sales to continue being impacted until meaningful recovery of the aerospace industry begins and Boeing 787 aircraft production levels get a boost.Financial TidbitsTotal operating expenses increased around 2% year over year to $51.7 million for second-quarter 2021. Engineering and R&D expenses rose to $29.1 million from $28.9 million recorded in the year-ago period. SG&A expenses edged up to $22.6 million from $21.7 million recorded in the corresponding quarter of 2020.Gentex paid dividends of 12 cents per share for the quarter under review. During the June-end quarter, it repurchased 3.4 million shares of its common stock for $115.9MILLION.Gentex — which shares space in the same industry with firms including Adient ADNT, Magna International MGA and American Axle & Manufacturing AXL — had cash and cash equivalents of $353 million as of Jun 30.ProjectionsBased on the mid-July IHS Markit forecast, light vehicle production in Gentex’s primary markets is expected to decrease 4% in second-half 2021 from the year-ago comparable period. The company has also taken into account the impact of high commodity, freight and labor expenses to provide its second-half 2021 guidance. It envisions net sales in the band of $970-$1.07 billion for second-half 2021. Gross margin is anticipated in the range of 37.5-38.5%. Capital expenditure and operating expenses are estimated within $50-$60 million and $105-$110 million, respectively. For calendar year 2022, the Zacks Rank #3 (Hold) firm expects sales growth of 10-15% year over year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report American Axle & Manufacturing Holdings, Inc. (AXL): Free Stock Analysis Report Magna International Inc. (MGA): Free Stock Analysis Report Gentex Corporation (GNTX): Free Stock Analysis Report Adient PLC (ADNT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research