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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549
FORM 10-K
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE

ACT OF 1934 FOR FISCAL YEAR ENDED DECEMBER 31, 2004.
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE

ACT OF 1934.
For the transition period from__________________ to ______________________
Commission File No.: 0-10235
GENTEX CORPORATION

(Exact name of registrant as specified in its charter)
MICHIGAN 38-2030505

(State or other jurisdiction of (I.R.S. Employer

incorporation or organization) Identification No.)
600 N. CENTENNIAL STREET, ZEELAND, MICHIGAN 49464

(Address of principal executive offices) (Zip Code)
(616) 772-1800

(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each Class Name of each exchange on which registered

NONE ______________________________________________
Securities registered pursuant to Section 12(g) of the Act:
COMMON STOCK, PAR VALUE $.06 PER SHARE

(Title of Class)
Indicate by check mark whether the registrant (1) has filed all reports required

to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during

the preceding 12 months (or for such shorter period that the registrant was

required to file such reports), and (2) has been subject to such filing

requirements for the past 90 days.
Yes [X] No: [ ]
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405

of Regulation S-K (229.405 of this chapter) is not contained herein, and

will not be contained, to the best of registrant's knowledge, in definitive

proxy or information statements incorporated by reference in Part III of this

Form 10-K or any amendment to this Form 10-K. [X]
Indicate by check mark whether the registrant is an accelerated filer as defined

in Rule 12b-2 of the Act.

Yes [X] No: [ ]
As of June 30, 2004 (the last business day of the registrant's most recently

completed second fiscal quarter), 77,454,000 shares of the registrant's common

stock, par value $.06 per share, were outstanding. The aggregate market value of

the common stock held by non-affiliates of the registrant (i.e., excluding

shares held by executive officers, directors, and control persons as defined in

Rule 405, 17 CFR 203.405) on that date was $2,937,580,554 computed at the

closing price on that date.
As of February 9, 2005, 77,880,036 shares of the registrant's common stock, par

value $.06 per share, were outstanding.
Portions of the Company's Proxy Statement for its 2005 Annual Meeting of

Shareholders are incorporated by reference into Part III.
Exhibit Index located at Page 36
-1-
Statements in this Annual Report on Form 10-K which express "belief",

"anticipation" or "expectation" as well as other statements which are not

historical fact, such as availability and the impact of new products and

technology (i.g., SmartBeam and LEDs) penetration of the automotive market,

competition and foreign exchange rates, are forward-looking statements and

involve risks and uncertainties described below under the headings "Business"

and "Management's Discussion and Analysis of Results of Operations and Financial

Condition" that could cause actual results to differ materially from those

projected. All forward-looking statements in this Annual Report are based on

information available to the Company on the date hereof, and the Company assumes

no obligation to update any such forward-looking statements.
PART I
ITEM 1. BUSINESS
(a) GENERAL DEVELOPMENT OF BUSINESS
Gentex Corporation (the "Company") designs, develops, manufactures and

markets proprietary products employing electro-optic technology: automatic-

dimming rearview mirrors and fire protection products.
The Company was organized in 1974 to manufacture residential smoke

detectors, a product line that has since evolved into a more sophisticated group

of fire protection products for commercial applications. In 1982, the Company

introduced an automatic interior rearview mirror that was the first commercially

successful glare-control product offered as an alternative to the conventional,

manual day/night mirror. In 1987, the Company introduced its interior

electrochromic (auto-dimming) mirror, providing the first successful commercial

application of electrochromic (EC) technology in the automotive industry and

world. Through the use of electrochromic technology, this mirror is continually

variable and automatically darkens to the degree required to eliminate rearview

headlight glare. In 1991, the Company introduced its exterior electrochromic

sub-assembly, which works as a complete glare-control system with the interior

auto-dimming mirror. In 1997, the Company began making volume shipments of three

new exterior mirror sub-assembly products: thin glass flat, convex and aspheric.
During 2001 and 2002, the Company began making shipments of its

auto-dimming mirrors for a number of mid-sized, medium-priced vehicles. During

2003, the Company began making shipments of its auto-dimming mirrors to two new

automotive OEM (original equipment manufacturer) customers, Honda and Volvo, and

began volume shipments of its proprietary microphone as part of

DaimlerChrysler's "U-Connect(R)" telematics system.
During 2004, the Company began shipping auto-dimming mirrors with

SmartBeam, its proprietary intelligent high-beam headlamp control feature, on

the Cadillac STS and Jeep Grand Cherokee. Also during 2004, the Company began

making shipments of its auto-dimming mirrors to Peugeot, the Company's first

automotive OEM customer in France.
The Company's annual report on Form 10-K, quarterly reports on Form 10-Q,

current reports on Form 8-K, and all amendments to those reports, will be made

available free of charge through the Investor Information section of the

Company's Internet website (http://www.gentex.com) as soon as practicable after

such material is electronically filed with or furnished to the Securities and

Exchange Commission.
(b) FINANCIAL INFORMATION ABOUT INDUSTRY SEGMENTS
See Note 8 to the Consolidated Financial Statements filed with this

report.
(c) NARRATIVE DESCRIPTION OF BUSINESS
The Company currently manufactures electro-optic products, including

automatic-dimming rearview mirrors for the automotive industry and fire

protection products primarily for the commercial building industry.
AUTOMATIC-DIMMING REARVIEW MIRRORS
Interior Auto-Dimming Mirrors. In 1987, the Company achieved a significant

technological breakthrough by applying electrochromic technology to the

glare-sensing capabilities of its Motorized Mirror. Through the use of this

technology, the mirror gradually darkens to the degree necessary to eliminate

rearview glare from following vehicle headlights. The auto-dimming mirror offers

all of the continuous reflectance levels between its approximate 85%

full-reflectance state and its 7% least-reflectance state, taking just a few

seconds to span the entire range. Special electro-optic sensors in the mirror

detect glare and electronic circuitry supplies electricity to darken the mirror

to only the precise level required to eliminate glare, allowing the driver to

maintain maximum
- 2 -
vision. This is accomplished by the utilization of two layers of precision glass

with special conductive coatings that are separated by the Company's proprietary

electrochromic materials. When the appropriate light differential is detected,

an electric current causes the electrochromic material to darken, decreasing the

mirror's reflectance, thereby eliminating glare.
During 1991, the Company began shipping the first advanced-feature

interior auto-dimming mirror, the auto-dimming headlamp control mirror, an

automatic-dimming mirror that automatically turns car head- and taillamps "on"

and "off" at dusk and dawn in response to the level of light observed. During

1993, the Company began shipping an auto-dimming compass mirror, with an

electronic compass that automatically compensates for changes in the earth's

magnetic field. During 1997, the Company began shipping a new interior

auto-dimming mirror that digitally displays either a compass or outside

temperature reading. During 1998, the Company began shipping new compass mirrors

with its proprietary light-emitting diode (LED) map lamps, a major improvement

over mirrors with standard incandescent map lamps, including extremely long

life, low heat generation, lower current draw, more resistance to shock, and

lower total cost of ownership. In 2000, the Company began shipping to General

Motors interior auto-dimming mirrors that serve as the driver interface for the

OnStar(R) System, an in-vehicle safety, security and information service using

Global Positioning System (GPS) satellite technology. OnStar is a registered

trademark of OnStar Corporation.
The Company shipped approximately 6,305,000 interior auto-dimming mirrors

in 2002, approximately 7,132,000 in 2003, and approximately 8,363,000 in 2004.
During 2001 and 2002, the Company began making shipments of its

auto-dimming mirrors for a number of mid-sized, medium-priced vehicles,

including the Toyota Camry, Matrix and Corolla; Ford Taurus and Mercury Sable;

Volkswagen Passat, Jetta, Golf GTI and Beetle; Nissan Altima; Opel cross car

line; Chrysler Sebring Coupe; Hyundai Santa Fe and Sonata; and Kia Optima and

Sorento.
During 2003, the Company began making shipments of its auto-dimming

mirrors to two new automotive OEM customers, Honda and Volvo, and began volume

shipments of its microphone as part of DaimlerChrysler's "U-Connect(R)"

telematics system.
During 2004, the Company began shipping auto-dimming mirrors with

SmartBeam, its proprietary intelligent high-beam headlamp control feature, on

the Cadillac STS and Jeep Grand Cherokee.
- 3 -
During 2004, the growth in total mirror unit shipments resulted from increased

penetration of light vehicles manufactured worldwide including the Ford Five

Hundred, Freestar and Freestyle; Mercury Montego and Monterey; Chrysler 300 and

PT Cruiser; Dodge Magnum, Infiniti QX56; Toyota Tacoma; BMW 6 Series and X3;

Volvo V50; Hyundai Trajet and Tucson; Kia Carnival and Cerato; Peugeot 407;

Toyota Century and Mark II; and various SEAT and Skoda vehicles. The Company's

interior auto-dimming mirrors are standard equipment or factory-installed

options on certain trim levels of the following 2005 vehicle models:
TABLE 1. INTERIOR AUTO-DIMMING MIRROR AVAILABILITY BY VEHICLE LINE (NORTH

AMERICAN MANUFACTURERS)

GM/Cadillac Deville / DTS DaimlerChrysler 300

STS / Chrysler Pacifica

CTS PT Cruiser

Escalade Sebring

SRX Town & Country

GM/Buick LeSabre DaimlerChrysler / Dakota

GM/Hummer H2 Dodge Durango

GM/Pontiac Bonneville Caravan

GM/Chevrolet Blazer Magnum

Malibu Ram Pickup

SSR DaimlerChrysler / Grand Cherokee

Express Jeep Liberty

Silverado Wrangler

Suburban DaimlerChrysler/ M Class

Avalanche Mercedes-Benz

Tahoe BMW X5

GM/GMC Savana Mazda 6

Sierra Mitsubishi / Chrysler Sebring

Yukon Mitsubishi / Dodge Stratus Coupe

Ford Crown Victoria Nissan Altima

Expedition Armada

Five Hundred Maxima

Freestar Quest

Freestyle Titan

F Series Nissan / Infiniti QX56

Taurus Toyota Avalon

Ford/Lincoln LS Camry Solara

Aviator Camry

Navigator Corolla

Town Car Matrix

Ford/Mercury Grand Marquis Sequoia

Montego Sienna

Monterey Tacoma

Sable Toyota/Lexus RX330

Volkswagen Beetle

Jetta
- 4 -
TABLE 1. INTERIOR AUTO-DIMMING MIRROR AVAILABILITY BY VEHICLE LINE - CONTINUED

(MANUFACTURERS OUTSIDE OF NORTH AMERICA)

Bentley Arnage MG Rover 75

Continental GT Mazda RX-8

BMW 7 Series DaimlerChrysler / C Class

5 Series Mercedes-Benz CLK

6 Series CLS

3 Series E Class

X3 G Wagen

Daewoo/Ssangyong Chairman S Class

Korando SL Class

Musso SLK

Musso Sports Mitsubishi Magna Verada

Rodius NQZ Outlander

Istana Nissan 350Z

DaimlerChrysler / Chrysler Voyager Cima

DaimlerChrysler / Jeep Grand Cherokee Gloria

Fiat / Alfa Romeo 147 Maxima

156 Murano

166 Peugeot 407

Fiat / Lancia Thesis Porsche Cayenne

Lybra Samsung SM5

Fiat (Brazil) Marea Toyota / Lexus IS300

Stilo ES330

Palio GS300

Ford Focus C-Max GS430

Mondeo LS430

Ford / Jaguar XK RX330

XJ SC300

S-Type SC430

Ford / Land Rover LR3 GX470

Range Rover LX470

Ford / Volvo S40 Toyota Land Cruiser

V50 Camry

GM / Opel Corsa Cygnus

Meriva Celsior

Astra Century

Zafira Mark II

Vectra Prius

Signum RAV4

Honda / Acura TSX Windom

Honda Inspire Highlander

Hyundai Dynasty 4-Runner

Grandeur Avensis

Sonata Corolla

Santa Fe Corolla Verso

Starex Volkswagen Polo

Avante Golf

Equus Passat

Tuscani Phaeton

Terracan Jetta

Trajet Touareg

Tucson Touran

Hyundai / Kia Motors Carnival Transporter

Cerato Volkswagen / Audi A3

Sorento A4

Optima A6

Carens A8

Opirus Volkswagen / SEAT Altea

Sportage Cordoba

Nissan / Infiniti Q45 Ibiza

FX35 / FX45 Leon

G35 Toledo

M45 Volkswagen / Skoda Octavia

Superb
Exterior Auto-Dimming Mirror Sub-Assemblies. The Company has devoted

substantial research and development efforts to the development of its

electrochromic technology to permit its use in exterior rearview mirrors.

Exterior auto-dimming mirrors are controlled by the sensors and electronic

circuitry in the interior auto-dimming mirror, and both the interior and

exterior mirrors dim
- 5 -
simultaneously. During 1991, the Company's efforts culminated in a design that

is intended to provide acceptable long-term performance in all environments

likely to be encountered. In 1994, the Company began shipments of its complete

three-mirror system, including the convex (curved glass) wide-angle auto-dimming

mirror to BMW. During 1997, the Company began making volume shipments of three
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