Superior Industries International Reports Second Quarter Results

    VAN NUYS, Calif.--July 18, 2001--Superior Industries International Inc. today announced that net income for the second quarter ended June 30, 2001 was $13,356,000, or $0.51 per diluted share, on revenue of $161,907,000, meeting the company's expectations announced on June 5, 2001.
    Unit shipments declined 7 percent, reflecting generally soft demand for light vehicles. For the second quarter of 2000, net income was $21,901,000, or $0.83 per diluted share, on revenue of $175,817,000.
    For the six months ended June 30, 2001, net income was $29,313,000, or $1.11 per diluted share. This compares with net income for last year's first half of $40,356,000, or $1.53 per diluted share. Revenue was $328,000,000 compared with $331,207,000 a year earlier.
    As anticipated, low factory utilization rates reduced gross margin for the second quarter. In addition, continued energy cost escalations reduced gross margin by approximately $2,200,000, or $0.06 per diluted share. A spokesman said that the company has implemented several programs that should contain any additional increases in energy costs.
    Results for the period also included the write off of approximately $2,500,000, or $0.06 per diluted 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 spokesman said that the Mexican wheel facility is scheduled to begin shipments in the second half of this year.

    Outlook

    "We are working hard to manage costs during this period of industry uncertainty by adjusting our work force, minimizing overtime, and reducing discretionary spending. At the same time, we believe that our growth opportunities have never been better. We will soon complete our global capacity expansion program and are aggressively seeking to win new business and expand Superior's market share. These investments, funded solely from internal sources, will put Superior in an even stronger competitive position as industry conditions improve.
    "Several important wheel programs are scheduled to begin shipping in the second half, including the new Dodge Ram, Chevrolet Avalanche, Ford Thunderbird, Toyota Camry and Buick Rendezvous programs. This is in addition to the continuing success we are enjoying with many new Ford programs, including Focus, F150 Harley Davidson model and the redesigned Ford Explorer wheel programs.
    "The first production shipments of Superior's aluminum suspension components are also set to begin in the third quarter.
    "As a result, we are optimistic about Superior's performance for the rest of 2001," the spokesman said.

    Stock Repurchase Plan

    The company repurchased approximately 4,343,000 shares of its common stock since 1995, including 9,000 shares during the second quarter. Approximately 3,700,000 shares remain for repurchase under the March 2000 board of directors' authorization.

                SUPERIOR INDUSTRIES INTERNATIONAL INC.
             Consolidated Statements of Income (Unaudited)
           (Dollars in Thousands, Except Per Share Amounts)

                              Three Months Ended    Six Months Ended 
                                   June 30               June 30
                               2001       2000       2001       2000

NET SALES                  $ 161,907  $ 175,817  $ 328,000  $ 331,207
Costs and Expenses
 Cost of Sales               137,074    137,309    273,278    259,865
 Selling and 
  Administrative Expenses      4,876      5,317      9,743     10,395

INCOME FROM OPERATIONS        19,957     33,191     44,979     60,947

Interest Income, net           1,464      1,740      2,771      3,580
Miscellaneous Expense, net     1,109      1,366      3,166      2,678

INCOME BEFORE TAXES           20,312     33,565     44,584     61,849
   Income Tax Expense          6,956     11,664     15,271     21,493

NET INCOME                  $ 13,356   $ 21,901   $ 29,313   $ 40,356

DILUTED EARNINGS PER SHARE  $   0.51   $   0.83   $   1.11   $   1.53

WEIGHTED AVERAGE AND
 EQUIVALENT SHARES 
  OUTSTANDING             26,383,000 26,322,000 26,321,000 26,349,000

                SUPERIOR INDUSTRIES INTERNATIONAL, INC.
                Consolidated Balance Sheets (Unaudited)
                        (Dollars in Thousands)

                                             As of June 30
                                         2001            2000
CURRENT ASSETS                        $ 269,461       $ 277,468
PROPERTY, PLANT AND 
 EQUIPMENT, net                         231,855         180,675
OTHER ASSETS                             29,091          30,885
                                      $ 530,407       $ 489,028

CURRENT LIABILITIES                   $  84,311       $  97,899
CAPITALIZED LEASES                         --               176
                                                       
OTHER LONG-TERM LIABILITIES              19,239          19,691
SHAREHOLDERS' EQUITY                    426,857         371,262
                                      $ 530,407       $ 489,028