Superior Reports Drop in Earnings, Sales

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Superior Industries International Inc. on Wednesday reported a third quarter loss of $7.7 million (29 cents per share), compared with a year-ago loss of $133,000.


Revenue for the Van Nuys-based wheel maker decreased 2.2 percent to $174 million, mainly based on a 16.4 percent decrease in wheel shipments. The company also sold its suspension components business to Saint Jean Industries earlier this year and also decided to close an aluminum wheel manufacturing facility in Johnson City, Tenn., which will take place early next year.


“Superior’s restructuring continues, an effort made increasingly urgent by the recent production cuts announced by the Big 3 automakers,” Steven Borick, the company’s chief executive, said. “They were especially severe in Superior’s important light trucks and SUV platforms in the third quarter.


Shares in Superior were flat at $16.89 in early trading Wednesday.

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