Gentex reports profit increase of 43 percent
ZEELAND, Mich. - Commercial fire products manufacturer Gentex reported record revenues and an increase of 43 percent in net income for the fourth quarter of 2002 ending Dec. 31, although fire protection revenue increased only about two percent.
Fourth quarter revenues increased to $107.3 million, a 35 percent increase, compared to the $79.7 million the company posted for the same period in 2001. For the year ended Dec. 31, net income increased to $85.8 million on a 27 percent increase in revenues to $395.3 million.
Fire protection revenues stood nearly flat compared to the $21 million Gentex posted in 2002. Company officials attribute those numbers to a continued decline in construction in the hotel/motel industry as a result of the terrorist attacks on Sept. 11, 2001.
NFPA 5000 meets ISO schedule
QUINCY, Mass. - NFPA 5000, Building Construction and Safety Code, met the criteria of the ISO for its Building Code Effectiveness Grading Schedule, making jurisdictions that adopt NFPA 5000 eligible for the maximum points available, NFPA officials announced.
ISO, a supplier of statistical, actuarial, underwriting and claims data for the property / casualty insurance industry, evaluates building code adoption and enforcement efforts within jurisdictions and provides classifications to insurers to assist them in underwriting and rating of individual properties.
Federal Signal declares dividend
OAK BROOK, Ill. - Federal Signal Corp. declared a regular quarterly cash dividend of 20 cents on its common stock, payable April 1, 2003 to holders of record at the close of business on March 13, 2003. This represents the 220th consecutive quarterly cash dividend paid by the company to holders of common stock.