Superior Industries International First Quarter Outlook

    VAN NUYS, Calif.--April 5, 2001--Citing the impact on gross margin of sharply higher energy prices during the winter, Superior Industries International Inc. announced today that it expects to report net income for the first quarter ended March 31, 2001, of approximately $0.61 per diluted share, or approximately $0.02 per share below the current consensus estimate.
    Included in the first quarter results is the write off of approximately $3.0 million of non-recurring start up costs related to the new aluminum components business and new wheel facility in Chihuahua, Mexico. For the first quarter of 2000, Superior reported net income of $0.70 per diluted share. Superior will report first quarter results on April 19, 2001.
    A company spokesman said, "Orders, unit shipments and revenue met our expectations for the first quarter. The dramatic spike in energy prices is estimated to reduce gross margin for the period by $3.8 million or $0.10 per share. With the recent decline in energy costs from the winter highs, we currently expect gross margin to gradually improve.
    "Our higher sales reflect our success in winning new and replacement aluminum wheel supply contracts both from our existing customers and important new customers. Over the past two years, we have won more than $400 million in new and replacement business.
    "In view of the current economic environment, we are carefully monitoring conditions in the automotive industry, and we are prepared to respond quickly to risks or take advantage of our financial strength and global capabilities to pursue new business opportunities that may emerge. We have developed contingency plans and are working hard to keep costs in line."