Superior May Increase Production

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Superior Industries International Inc.’s shares jumped 15 percent Wednesday morning after reporting that a recovering automotive industry enabled it to move from a loss to a profit in the fourth quarter. The aluminum wheel maker said it may increase production.

The Van Nuys company reported net income of $22.3 million (82 cents a share), compared with a net loss of $3.9 million (-15 cents) in the same quarter a year earlier. Revenue rose 32 percent to $191 million, with sales volume up 18 percent and the average selling price increasing 13 percent.

Analysts surveyed by Thomson Reuters on average were expecting per-share profit of 34 cents on revenue of less than $173 million.

Superior makes wheels for passenger cars and light-duty vehicles, and benefitted from a 40 percent increase last year in production of those types of vehicles. Chief Executive Steven J. Borick said the company was able to respond and achieve volume growth despite having closed facilities in late 2008 and 2009 during the recession.

“Strong demand from virtually all of our customers throughout the year reflected the recovery in the automotive sector and positively impacted our performance,” Borick said in a statement. “As 2011 unfolds, strong industry momentum is continuing. We are actively evaluating a number of options to increase production levels, while maintaining cost controls.”

Shares closed up $21.14, or 11 percent, to $21.32 on the New York Stock Exchange, after earlier rising as high as 15 percent.