Superior Industries Updates Second Quarter Outlook
VAN NUYS, Calif.--June 10, 2005--Superior Industries International, Inc. today updated earnings guidance for the second quarter ending June 30, 2005.The company said that customer orders have continued to decline for the quarter which has reduced plant utilization, work schedules, and gross margin by more than was previously anticipated. As a result, the company currently expects net earnings for the second quarter ending June 30, 2005 in the range of $0.15 to $0.17 per share.
"We continue to win substantial new and replacement wheel programs. We also are pushing ahead with our cost reduction and automation initiatives, which will serve us in good stead in the future," said President and Chief Executive Officer Steven Borick. "These are encouraging signs for the future," he added.
Superior plans to report its financial results for the second quarter and to host a conference call in late July.
About Superior Industries
Superior supplies aluminum wheels and other aluminum automotive components to Ford, General Motors, DaimlerChrysler, Audi, BMW, Isuzu, Jaguar, Land Rover, Mazda, MG Rover, Mitsubishi, Nissan, Subaru, Toyota, and Volkswagen. For additional information, visit www.supind.com.