{"id":483876,"date":"2021-04-29T06:03:36","date_gmt":"2021-04-29T10:03:36","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gentherm-reports-2021-first-quarter-results\/"},"modified":"2021-04-29T06:03:36","modified_gmt":"2021-04-29T10:03:36","slug":"gentherm-reports-2021-first-quarter-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gentherm-reports-2021-first-quarter-results\/","title":{"rendered":"Gentherm Reports 2021 First Quarter Results"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <em>Strong Automotive Revenue Significantly Outperformed Light Vehicle Production<br \/><\/em><br \/>\n        <em>Secured $400 Million in New Automotive Awards<br \/><\/em><br \/>\n        <em>Maintains 2021 Guidance<\/em>\n      <\/p>\n<p>NORTHVILLE, Mich., April  29, 2021  (GLOBE NEWSWIRE) &#8212; Gentherm (NASDAQ:THRM), a global market leader and developer of innovative thermal management technologies, today announced its financial results for the first quarter ending March 31, 2021.<\/p>\n<p>\n        <strong>First Quarter Highlights<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:12pt;margin-bottom:8pt\">Product revenues of $288.5 million increased 26.2% from $228.6 million in the 2020 first quarter.\n<ul type=\"circle\">\n<li style=\"margin-top:12pt;margin-bottom:8pt\">Excluding the impact of foreign currency translation, product revenues increased 21.5% year over year<\/li>\n<\/ul>\n<\/li>\n<li style=\"margin-top:12pt;margin-bottom:8pt\">GAAP diluted earnings per share was $0.99 as compared with $0.36 for the prior-year period<\/li>\n<li style=\"margin-top:12pt;margin-bottom:8pt\">Adjusted diluted earnings per share (see table herein) was $1.04. Adjusted diluted earnings per share in the prior-year period was $0.51<\/li>\n<li style=\"margin-top:12pt;margin-bottom:8pt\">Secured automotive new business awards totaling $400 million in the quarter<\/li>\n<\/ul>\n<p>Phil Eyler, the Company&#8217;s President and CEO, said \u201cI am pleased with the strong execution by the Gentherm team, especially in light of the headwinds in the global supply chain, allowing us to continue to outperform in Automotive versus the key markets we serve. In addition, we secured $400 million of new awards from auto makers around the world and continued to make progress on ClimateSense<sup>TM<\/sup> development. While there is still uncertainty in the supply chain, I am proud of our global team for maintaining the momentum on the topline and delivering strong operating performance, while continuing to expand technology leadership.\u201d<\/p>\n<p>\n        <strong>2021 First Quarter Financial Review<\/strong>\n      <\/p>\n<p>Product revenues for the first quarter of 2021 increased by $59.9 million, or 26.2%, as compared with the prior-year period. Excluding the impact of foreign currency translation, product revenues increased 21.5% year over year.<\/p>\n<p>Automotive revenues increased 29.1% year over year, with revenue growth in all product categories. Adjusting for foreign currency translation, organic Automotive revenues increased 24.1% year over year, driven by increased volumes as a result of new launches and higher take rate, as well as the negative impact of COVID-19 in the prior-year period. According to IHS Markit\u2019s mid-April report, actual light vehicle production increased by approximately 15.6% when compared with the first quarter of 2020 in the Company\u2019s key markets of North America, Europe, China, Japan and Korea.<\/p>\n<p>Gentherm Medical revenue declined 24.5% year over year, primarily as a result of the continued negative impact of the COVID-19 pandemic on elective surgeries and COVID-driven higher Blanketrol<sup>\u00ae<\/sup> sales in the prior-year period.<\/p>\n<p>See the \u201cRevenues by Product Category\u201d table included below for additional detail.<\/p>\n<p>Gross margin rate increased to 30.4% in the current-year period, as compared with 28.9% in the prior-year period. The 150-basis point improvement over the prior-year period resulted from favorable foreign currency translation, fixed cost leverage from higher unit volume and labor productivity. These were partially offset by annual customer price reductions, wage inflation and impact from industry-wide supply chain disruptions.<\/p>\n<p>Net research and development expenses of $17.6 million in the 2021 first quarter decreased $0.2 million, or 0.9% over the prior-year period, primarily due to higher reimbursements for design and development costs, partially offset by increased project-related spending.<\/p>\n<p>Selling, general and administrative expenses of $28.5 million in the 2021 first quarter increased $2.7 million, or 10.4%, versus the prior-year period. The year-over-year increase was primarily driven by increased stock-based compensation expenses as a result of exercises and mark-to-market adjustments in cash-settled stock appreciation rights.<\/p>\n<p>Restructuring expenses of $0.8 million in the current-year period were $3.0 million lower than the prior-year period.<\/p>\n<p>As described more fully in the \u201cReconciliation of Net Income to Adjusted EBITDA\u201d table included below, the Company recorded Adjusted EBITDA of $51.8 million in the 2021 first quarter compared with $32.7 million in the prior-year period, an increase of $19.1 million or 58.4%.<\/p>\n<p>Income tax expense in the 2021 first quarter was $7.6 million, as compared with $5.4 million in the prior-year period. The effective tax rate was 18.7% in the 2021 first quarter.<\/p>\n<p>GAAP diluted earnings per share for the first quarter of 2021 was $0.99 compared with $0.36 for the prior-year period. Adjusted diluted earnings per share, excluding non-cash purchase accounting impact, restructuring expenses, unrealized currency (gain) losses and other impacts (see table herein), was $1.04. Adjusted diluted earnings per share in the prior-year period was $0.51.<\/p>\n<p>\n        <strong>Guidance<\/strong>\n      <\/p>\n<p>The Company maintains its full-year 2021 guidance that was initially provided on its year-end 2020 earnings release on\u00a0March 1, 2020:<\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:12pt;margin-bottom:8pt\">Product revenues between $1.05 billion and $1.13 billion, assuming current foreign exchange rates and light vehicle production in the Company\u2019s key markets growing at a low-teens rate in 2021 versus 2020<\/li>\n<li style=\"margin-top:12pt;margin-bottom:8pt\">Adjusted EBITDA between 17% and 19% of product revenues<\/li>\n<li style=\"margin-top:12pt;margin-bottom:8pt\">Full-year effective tax rate between 22% and 24%<\/li>\n<li style=\"margin-top:12pt\">Capital expenditures between $50 million and $60 million<\/li>\n<\/ul>\n<p>\n        <strong>Conference Call<\/strong>\n      <\/p>\n<p>As previously announced, Gentherm will conduct a conference call today at 8:00 am Eastern Time to review these results. The dial-in number for the call is 1-877-407-4018 (callers in the U.S.) or +1-201-689-8471 (callers outside this U.S.). The passcode for the live call is 13718646.<\/p>\n<p>A live webcast and one-year archived replay of the call can be accessed on the Events page of the Investor section of Gentherm&#8217;s website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=9CQhcwZS7Odh1-N1sQxg34d0TAoYRzZxRaMhAuCDToACWtI1xrvXx27T1E0Zll5qBiVis87jY8eybXNBcx1RUw==\" rel=\"nofollow noopener\" target=\"_blank\">www.gentherm.com<\/a>.<\/p>\n<p>A telephonic replay will be available at approximately two hours after the call until 11:59 pm Eastern Time on May 13, 2021. The replay can be accessed by dialing 1-844-512-2921 (callers in the U.S.), or +1-412-317-6671 (callers outside the U.S.). The passcode for the replay is 13718646.<\/p>\n<p>\n        <strong>Investor Relations Contact<\/strong><br \/>\n        <br \/>Yijing Brentano<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=XJb9sLHPWVbUt16S-dGXsBeTwQbb6ANO4TKQ_Q9f5TQFGsaCj1DVU-XqD1cQYytvdtkSF8u3YQId9WwRD8qFAWxobmsn8zQw7RkQnuXL9-o=\" rel=\"nofollow noopener\" target=\"_blank\">investors@gentherm.com<\/a><br \/>(248) 308-1702<\/p>\n<p>\n        <strong>Media Contact<\/strong><br \/>\n        <br \/>Melissa Fischer<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=kTXmrauGzIFEd564dJzAyqVy4Xl3RxkL7FL7ng4MD_XTjvhvDF7nzCWVVT6HG0Y3bSHgPT6Mbl7lBob_WHfMV1F6TjHnbiw3i-ns19eQHTE=\" rel=\"nofollow noopener\" target=\"_blank\">media@gentherm.com<\/a><br \/>248.289.9702<\/p>\n<p>\n        <strong>About Gentherm<\/strong>\n      <\/p>\n<p>Gentherm (NASDAQ:THRM) is a global developer and marketer of innovative thermal management technologies for a broad range of heating and cooling and temperature control applications. Automotive products include variable temperature Climate Control Seats, heated automotive interior systems (including heated seats, steering wheels, armrests and other components), battery performance solutions, cable systems and other electronic devices. Medical products include patient temperature management systems. The Company is also developing a number of new technologies and products that will help enable improvements to existing products and to create new product applications for existing and new markets. Gentherm has\u00a0more than 11,000 employees in facilities in the United States, Germany, Canada, China, Hungary, Japan, Korea,\u00a0North\u00a0Macedonia, Malta, Mexico, United Kingdom, Ukraine, and Vietnam.\u00a0For more information, go to\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=9CQhcwZS7Odh1-N1sQxg32-0hSWXImJeWMBLUc1iuv8tVBegFOL5c29qPeoXmIXjp9AKPAzlcOUCyWJsM7lilQ==\" rel=\"nofollow noopener\" target=\"_blank\"><u>www.gentherm.com<\/u><\/a>.\u00a0<\/p>\n<p>\n        <strong>Forward-Looking Statements<\/strong>\u00a0<\/p>\n<p>Except for historical information contained herein, statements in this release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Gentherm Incorporated&#8217;s goals, beliefs, plans and expectations about its prospects for the future and other future events. The forward-looking statements included in this release are made as of the date hereof or as of the date specified herein and are based on management&#8217;s reasonable expectations and beliefs. Such statements are subject to a number of important assumptions, risks, uncertainties and other factors that may cause actual results or performance to differ materially from that described in or indicated by the forward-looking statements, including that:<\/p>\n<ul type=\"square\">\n<li style=\"margin-top:5pt;margin-bottom:5pt\">the COVID-19 pandemic and its direct and indirect adverse impacts on the automobile and medical industries and global economy, which had, and may continue to have, an adverse effect on, among other things, the Company\u2019s results of operations, financial condition, cash flows, liquidity, borrowing availability under the Company\u2019s revolving credit facility, business operations, and stock price;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">the loss of any key suppliers, or any material delays in the supply chain of the Company or the OEMs and Tier 1s supplied by the Company, including resulting from a shortage of key components (such as semiconductors);<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">the Company\u2019s failure to be in compliance with covenants under its debt agreements, which could result in the amounts outstanding thereunder being accelerated and becoming immediately due and payable;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">the Company\u2019s ability to obtain additional financing by accessing the capital markets, which may not be available on acceptable terms or at all;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">the macroeconomic environment, including its impact on the automotive industry, which is cyclical;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">any significant declines or slower growth than anticipated in light vehicle production;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">market acceptance of the Company\u2019s existing or new products, and new or improved competing products developed by competitors with greater resources;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">shifting customer preferences, including due to the evolving use of automobiles and technology;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">the Company\u2019s ability to project future sales volumes, based on which the Company manages its business;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">reductions in new business awards, which were limited in 2020, and may continue to be limited, due to COVID-19 and related uncertainties;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">the Company\u2019s ability to convert new business awards into product revenues;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">the loss or insolvency of any of the Company\u2019s key customers;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">the impact of price downs in the ordinary course, or additional increased pricing pressures from the Company\u2019s customers;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">the feasibility of Company\u2019s development of new products on a timely, cost effective basis, or at all;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">security breaches and other disruptions to the Company\u2019s IT systems;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">work stoppages impacting the Company, its suppliers or customers;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">changes in free trade agreements or the implementation of additional tariffs, and the Company\u2019s ability to pass-through tariff costs;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">unfavorable changes to currency exchange rates;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">the Company\u2019s ability to protect its intellectual property in certain jurisdictions;<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">the Company\u2019s ability to effectively implement ongoing restructuring and other cost-savings measures or realize the full amount of estimated savings; and<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">compliance with, and increased costs related to, domestic and international regulations.<\/li>\n<\/ul>\n<p>The foregoing risks should be read in conjunction with the Company&#8217;s filings with the Securities and Exchange Commission (the \u201cSEC\u201d), including \u201cRisk Factors\u201d, in its most recent Annual Report on Form 10-K and subsequent SEC filings, for a discussion of these and other risks and uncertainties. In addition, the business outlook discussed in this release does not include the potential impact of any business combinations,\u00a0acquisitions, divestitures, strategic investments and other significant transactions that may be completed after the date hereof, each of which may present material risks to the Company\u2019s future business and financial results.\u00a0<\/p>\n<p>Except as required by law, the Company expressly disclaims any obligation or undertaking to update any forward-looking statements to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.\u00a0<\/p>\n<p align=\"center\">\n        <strong><\/p>\n<p>GENTHERM INCORPORATED<\/strong><br \/>\n        <br \/>\n        <strong>CONSOLIDATED CONDENSED STATEMENTS OF INCOME <\/strong><br \/>\n        <br \/>\n        <strong>(In thousands, except per share data) <\/strong><br \/>\n        <br \/>\n        <strong>(Unaudited) <\/strong>\n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"6\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Three Months Ended March 31,<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\n            <strong>2021<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\n            <strong>2020<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:64%;width:64%;min-width:64%;vertical-align: top\">Product revenues<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">288,535<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">228,613<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Cost of sales<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">200,866<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">162,546<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Gross margin<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">87,669<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">66,067<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Operating expenses:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Net research and development expenses<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">17,603<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">17,760<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Selling, general and administrative expenses<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">28,526<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">25,840<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Restructuring expenses<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">791<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">3,766<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Total operating expenses<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">46,920<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">47,366<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Operating income<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">40,749<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">18,701<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Interest expense, net<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(1,039<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(748<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Foreign currency gain (loss)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">773<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(938<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Other (loss) income<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(9<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">264<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Earnings before income tax<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">40,474<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">17,279<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Income tax expense<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">7,565<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">5,406<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Net income<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">32,909<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">11,873<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Basic earnings per share<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">1.00<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">0.36<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Diluted earnings per share<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">0.99<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">0.36<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Weighted average number of shares \u2013 basic<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">32,946<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">32,693<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Weighted average number of shares \u2013 diluted<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">33,390<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">32,869<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"center\">\n        <strong><\/p>\n<p>GENTHERM INCORPORATED<\/strong><br \/>\n        <br \/>\n        <strong>REVENUE BY PRODUCT CATEGORY AND RECONCILIATION OF FOREIGN CURRENCY TRANSLATION IMPACT<\/strong><br \/>\n        <br \/>\n        <strong>(In thousands)<\/strong><br \/>\n        <br \/>\n        <strong>(Unaudited)<\/strong>\n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"9\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Three Months Ended March 31,<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2021<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2020<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>% Change<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:56%;width:56%;min-width:56%;vertical-align: top\">Climate Control Seat<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">109,173<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">82,528<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">32.3<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Seat Heaters<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">76,721<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">64,532<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">18.9<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Steering Wheel Heaters<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">28,864<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">19,235<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">50.1<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Automotive Cables<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">24,281<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">22,140<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">9.7<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Battery Performance Solutions<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">17,760<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">11,209<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">58.4<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Electronics<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">15,105<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">10,376<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">45.6<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Other Automotive<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">7,466<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">6,452<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">15.7<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Subtotal Automotive segment<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">279,370<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">216,472<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">29.1<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Medical segment<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">9,165<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">12,141<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(24.5<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Total Company<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">288,535<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">228,613<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Less: Foreign currency translation impact<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">10,879<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Total Company, excluding foreign currency translation impact<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">277,656<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">228,613<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">21.5<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">%<\/td>\n<\/tr>\n<\/table>\n<p align=\"center\">\n        <strong><\/p>\n<p>GENTHERM INCORPORATED<br \/><\/strong><br \/>\n        <strong>RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA<br \/><\/strong><br \/>\n        <strong>(In thousands)<br \/><\/strong><br \/>\n        <strong>(Unaudited)<\/strong>\n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"6\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Three Months Ended March 31,<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2021<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2020<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:64%;width:64%;min-width:64%;vertical-align: top\">Net income<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">32,909<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">11,873<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Add back:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Depreciation and amortization<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">9,695<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">10,153<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Income tax expense<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">7,565<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">5,406<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Interest expense<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">1,039<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">748<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Adjustments:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Restructuring expense<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">791<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">3,766<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Unrealized currency (gain) loss<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(295<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">765<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Acquisition expenses<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">114<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Adjusted EBITDA<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">51,818<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">32,711<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <u>Use of Non-GAAP Financial Measures <\/u><br \/>\n        <\/strong>\n      <\/p>\n<p>In addition to the results reported in accordance with GAAP throughout this release, the Company has provided here or elsewhere information regarding adjusted earnings before interest, taxes, depreciation and amortization (\u201cAdjusted EBITDA\u201d), Adjusted EBITDA margin, adjusted earnings per share (\u201cAdjusted earnings per share\u201d or \u201cAdjusted EPS\u201d), free cash flow, Net Debt and Revenue excluding the impact of foreign currency translation, each a non-GAAP financial measure. The Company defines Adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, deferred financing cost amortization, and other gains and losses not reflective of the Company\u2019s ongoing operations and related tax effects including transaction expenses, debt retirement expenses, impairment of assets held for sale, gain or loss on sale of business, restructuring expense, unrealized currency gain or loss and unrealized revaluation of derivatives. The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided by product revenues. The Company defines Adjusted EPS as earnings adjusted by gains and losses not reflective of the Company\u2019s ongoing operations and related tax effects including transaction expenses, debt retirement expenses, impairment of assets held for sale, gain or loss on sale of business, restructuring expense, unrealized currency gain or loss and unrealized revaluation of derivatives. The Company defines Free Cash Flow as Net cash provided by operating activities less Purchases of property and equipment. The Company defines Net Debt as the principal amount of all Consolidated Funded Indebtedness (as defined in the Credit Agreement) less cash and cash equivalents. The Company defines Revenue excluding the impact of foreign currency translation as revenue, less the estimated effects of foreign currency exchange on revenue by translating actual revenue using the prior period foreign currency exchange rates.<\/p>\n<p>The Company\u2019s reconciliations are included in this release or can be found in the supplemental materials furnished as Exhibit 99.2 to the Company\u2019s Form 8-K dated April 29, 2021.<\/p>\n<p>In evaluating its business, the Company considers and uses Free Cash Flow and Net Debt as supplemental measures of its liquidity and the other non-GAAP financial measures as supplemental measures of its operating performance. Management provides such non-GAAP financial measures so that investors will have the same financial information that management uses with the belief that it will assist investors in properly assessing the Company&#8217;s performance on a period-over-period basis by excluding matters not indicative of the Company\u2019s ongoing operating or liquidity results. In evaluating our non-GAAP financial measures, you should be aware that in the future we may incur revenues, expenses, and cash and non-cash obligations that are the same as or similar to some of the adjustments in our presentation of non-GAAP financial measures. Our presentation of non-GAAP financial measures should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. There also can be no assurance that we will not modify the presentation of our non-GAAP financial measures in the future, and any such modification may be material. Other companies in our industry may define and calculate these non-GAAP financial measures differently than we do and those calculations may not be comparable to our metrics. These non-GAAP measures have limitations as analytical tools, and when assessing the Company&#8217;s operating performance or liquidity, investors should not consider these non-GAAP measures in isolation, or as a substitute for net income, revenue or other consolidated income statement or cash flow statement data prepared in accordance with GAAP.<\/p>\n<p>Non-GAAP measures referenced in this release and other public communications may include estimates of future Adjusted EBITDA, Adjusted EBITDA margin and Adjusted EPS. Such forward-looking non-GAAP measures may differ significantly from the corresponding GAAP measures, due to depreciation and amortization, tax expense, and\/or interest expense, some or all of which management has not quantified for the future periods.<\/p>\n<p align=\"center\">\n        <strong><br \/>\n          <br \/>GENTHERM INCORPORATED<br \/><\/strong><br \/>\n        <strong>ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER SHARE<br \/><\/strong><br \/>\n        <strong>(In thousands, except per share data)<br \/><\/strong><br \/>\n        <strong>(Unaudited)<\/strong>\n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"6\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Three Months Ended March 31,<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2021<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2020<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:64%;width:64%;min-width:64%;vertical-align: bottom\">Net income<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">32,909<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">11,873<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Non-cash purchase accounting impact<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">2,050<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">2,143<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Restructuring expenses<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">791<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">3,766<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Unrealized currency (gain) loss<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(295<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">765<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Acquisition expenses<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">114<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Tax effect of above<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(680<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(1,710<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Adjusted net income<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">34,889<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">16,837<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;text-align: center;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;text-align: center;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Weighted average shares outstanding:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Basic<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">32,946<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">32,693<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Diluted<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">33,390<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">32,869<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Earnings per share, as reported:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Basic<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">1.00<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">0.36<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Diluted<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">0.99<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">0.36<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Adjusted earnings per share:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Basic<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">1.06<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">0.52<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Diluted<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">1.04<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">0.51<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"center\">\n        <strong><\/p>\n<p>GENTHERM INCORPORATED<br \/><\/strong><br \/>\n        <strong>CONSOLIDATED CONDENSED BALANCE SHEETS<br \/><\/strong><br \/>\n        <strong>(In thousands, except share data)<br \/><\/strong><br \/>\n        <strong>(Unaudited)<\/strong>\n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>March 31, 2021<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>December 31, 2020<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:64%;width:64%;min-width:64%;vertical-align: top\">\n            <strong>ASSETS<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Current Assets:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Cash and cash equivalents<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">170,955<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">268,345<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Accounts receivable, net<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">222,385<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">211,672<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Inventory:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Raw materials<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">74,549<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">68,362<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Work in process<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">8,423<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">8,247<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Finished goods<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">49,085<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">45,792<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: top\">Inventory, net<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">132,057<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">122,401<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Other current assets<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">39,072<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">41,188<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Total current assets<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">564,469<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">643,606<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Property and equipment, net<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">151,440<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">152,581<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Goodwill<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">66,289<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">68,024<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Other intangible assets, net<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">42,859<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">46,421<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Operating lease right-of-use assets<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">27,200<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">30,642<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Deferred income tax assets<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">71,983<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">73,912<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Other non-current assets<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">8,214<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">7,653<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Total assets<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">932,454<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">1,022,839<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>LIABILITIES AND SHAREHOLDERS\u2019 EQUITY<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Current Liabilities:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Accounts payable<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">132,831<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">116,043<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Current lease liabilities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">6,168<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">6,032<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Current maturities of long-term debt<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">2,500<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">2,500<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Other current liabilities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">81,251<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">81,409<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Total current liabilities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">222,750<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">205,984<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Long-term debt, less current maturities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">59,319<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">189,934<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Non-current lease liabilities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">22,354<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">24,233<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Pension benefit obligation<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">7,612<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">8,163<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Other non-current liabilities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">7,661<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">8,194<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Total liabilities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">319,696<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">436,508<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Shareholders\u2019 equity:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Common Stock:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">No par value; 55,000,000 shares authorized 33,110,644 and 32,921,341 issued and outstanding at March 31, 2021 and December 31, 2020, respectively<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">129,600<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">121,073<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Paid-in capital<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">6,123<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">7,458<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Accumulated other comprehensive loss<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(28,656<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(14,982<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Accumulated earnings<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">505,691<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">472,782<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Total shareholders\u2019 equity<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">612,758<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">586,331<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Total liabilities and shareholders\u2019 equity<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">932,454<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">1,022,839<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"center\">\n        <strong><\/p>\n<p>GENTHERM INCORPORATED<br \/><\/strong><br \/>\n        <strong>CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS<br \/><\/strong><br \/>\n        <strong>(In thousands)<br \/><\/strong><br \/>\n        <strong>(Unaudited)<\/strong>\n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"6\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Three Months Ended March 31,<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2021<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2020<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:64%;width:64%;min-width:64%;vertical-align: top\">Operating Activities:<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">Net income<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">32,909<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">11,873<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">Adjustments to reconcile net income to net cash provided by operating activities:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: top\">Depreciation and amortization<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">9,854<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">10,406<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: top\">Deferred income taxes<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">105<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">721<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: top\">Non-cash stock based compensation<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">2,740<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">1,942<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: top\">Change in defined benefit pension plans<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(477<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">85<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: top\">Loss on sale of property and equipment<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">242<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">119<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: top\">Operating lease expense<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">2,575<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">1,651<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Changes in assets and liabilities:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Accounts receivable, net<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(13,931<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(2,040<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Inventory<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(11,546<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(404<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Other assets<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">555<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(4,805<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Accounts payable<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">18,113<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">13,540<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Other liabilities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(1,472<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(3,669<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: top\">Net cash provided by operating activities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">39,667<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">29,419<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Investing Activities:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">Purchases of property and equipment<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(9,913<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(3,231<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">Acquisition of intangible assets<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(3,141<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">Proceeds from the sale of property and equipment<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">10<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">34<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">Other<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(200<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: top\">Net cash used in investing activities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(10,103<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(6,338<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Financing Activities:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">Borrowing of debt<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">169,546<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">Repayments of debt<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(130,000<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(16,111<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">Cash paid for the repurchase of Common Stock<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(9,092<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">Proceeds from the exercise of Common Stock options<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">5,984<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">5,902<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">Cash paid for the cancellation of restricted stock<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(1,532<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(404<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Acquisition contingent consideration payment<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(68<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: top\">Net cash (used in) provided by financing activities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(125,616<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">149,841<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: top\">Foreign currency effect<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(1,338<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(426<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: top\">Net (decrease) increase in cash and cash equivalents<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">(97,390<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">172,496<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: top\">Cash and cash equivalents at beginning of period<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">268,345<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">52,948<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: top\">Cash and cash equivalents at end of period<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">170,955<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">225,444<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Supplemental disclosure of cash flow information:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">Cash paid for taxes<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">2,555<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">3,525<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">Cash paid for interest<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">844<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;padding-left: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;padding-left: 0;vertical-align: bottom\">537<\/td>\n<td style=\"padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIyNTg5NSM0MTQ0Nzk5IzIwMDQyMjg=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/b1d6a7c4-1d0a-47a4-bc1a-a9ea39cf8b8d\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Strong Automotive Revenue Significantly Outperformed Light Vehicle Production Secured $400 Million in New Automotive Awards Maintains 2021 Guidance NORTHVILLE, Mich., April 29, 2021 (GLOBE NEWSWIRE) &#8212; Gentherm (NASDAQ:THRM), a global market leader and developer of innovative thermal management technologies, today announced its financial results for the first quarter ending March 31, 2021. First Quarter Highlights Product revenues of $288.5 million increased 26.2% from $228.6 million in the 2020 first quarter. Excluding the impact of foreign currency translation, product revenues increased 21.5% year over year GAAP diluted earnings per share was $0.99 as compared with $0.36 for the prior-year period Adjusted diluted earnings per share (see table herein) was $1.04. Adjusted diluted earnings per share in the prior-year period was $0.51 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gentherm-reports-2021-first-quarter-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gentherm Reports 2021 First Quarter Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-483876","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gentherm Reports 2021 First Quarter Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gentherm-reports-2021-first-quarter-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gentherm Reports 2021 First Quarter Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Strong Automotive Revenue Significantly Outperformed Light Vehicle Production Secured $400 Million in New Automotive Awards Maintains 2021 Guidance NORTHVILLE, Mich., April 29, 2021 (GLOBE NEWSWIRE) &#8212; Gentherm (NASDAQ:THRM), a global market leader and developer of innovative thermal management technologies, today announced its financial results for the first quarter ending March 31, 2021. First Quarter Highlights Product revenues of $288.5 million increased 26.2% from $228.6 million in the 2020 first quarter. Excluding the impact of foreign currency translation, product revenues increased 21.5% year over year GAAP diluted earnings per share was $0.99 as compared with $0.36 for the prior-year period Adjusted diluted earnings per share (see table herein) was $1.04. 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First Quarter Highlights Product revenues of $288.5 million increased 26.2% from $228.6 million in the 2020 first quarter. Excluding the impact of foreign currency translation, product revenues increased 21.5% year over year GAAP diluted earnings per share was $0.99 as compared with $0.36 for the prior-year period Adjusted diluted earnings per share (see table herein) was $1.04. 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