Superior Industries International Second Quarter Outlook

    VAN NUYS, Calif.--June 5, 2001--Superior Industries International Inc. today announced that it currently expects to report revenue for the second quarter ended June 30, 2001 of approximately $155 million to $160 million and net income of approximately $0.50 to $0.52 per diluted share, which is below the current consensus estimate.
    A company spokesman indicated the outlook reflects generally soft light vehicle demand, including plant shutdowns recently announced at Ford. This has resulted in lower-than-expected factory utilization for the second quarter. Other factors that were cited include continued energy cost escalations, which are expected to reduce gross margin for the quarter by approximately $2.6 million, or $0.06 per diluted share.
    The company has several new initiatives that should contain any additional increases in energy costs. In addition, results for the period will include the write off of approximately $2.5 million, or $0.06 per share of non-recurring start up costs related to Superior's new aluminum automotive components business and its new wheel facility in Chihuahua, Mexico. The Mexican wheel facility is scheduled to begin shipments in the second half of this year.
    "We are closely monitoring costs and taking aggressive actions to adjust our work force, minimize overtime, and reduce discretionary spending during this period of industry weakness. We remain optimistic about Superior's performance for the remainder of the year and the long term, as we continue to expand our market share by winning large new and replacement aluminum wheel supply contracts both from existing and new customers.
    "Several important programs are scheduled to begin shipping in the second half, including the new Dodge Ram, Chevrolet Avalanche and Ford Thunderbird programs. In addition, the first production shipments of Superior's aluminum suspension components are scheduled to begin later this year," the spokesman said.

    About Superior Industries

    Superior supplies aluminum wheels and other aluminum automotive components to Ford, General Motors, DaimlerChrysler, BMW, Volkswagen, Audi, Land Rover, MG Rover, Toyota, Mazda, Mitsubishi, Nissan and Isuzu. For additional information, visit Superior's Web site at www.supind.com.

    Forward-Looking Statements

    This news release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors and risks discussed from time to time in the company's Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.