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Superior Industries Expects Record Q4 and 1999 Results

20 January 2000

Superior Industries Expects Record Fourth-Quarter and 1999 Results; 17% Above Consensus Analyst Estimates; Further Growth Anticipated in 2000

    VAN NUYS, Calif.--Jan. 19, 2000--In an interview with Dow Jones reported yesterday, Superior Industries International Inc. announced that it expects to report record earnings for the fourth quarter ended December 31, 1999 of $0.81 per diluted share, 17% above consensus analyst estimates.
    As a result, the Company said that it expects earnings for 1999 to increase by 39% to a record $2.62 per diluted share, also well ahead of consensus estimates, on a 6% gain in revenue to approximately $570 million.
    For the fourth quarter of 1998, Superior reported net income of $0.71 per diluted share, a record performance at the time. For 1998, net income was $1.88 per diluted share.
    Executive Vice President Steven J. Borick said, "We currently expect net income of $2.90 per diluted share on revenue of at least $630 million for 2000." Earlier, the consensus Wall Street estimate for 2000 was $2.68 per diluted share.
    In addition to the strength in automobile sales expected by analysts in 2000, and the industry's continued shift to lighter, more fuel-efficient aluminum wheels, Superior expects to benefit from its renewed relationship with DaimlerChrysler Corporation announced earlier this month.
    "We have additional business with DaimlerChrysler that has been secured but not yet announced that could add $25 to $30 million in annual revenue beginning in 2002," Borick said.
    He added that Superior is expanding its manufacturing capacity, including the construction of a new wheel plant and a dedicated aluminum suspension and related underbody components facility, as part of its long-term growth strategy.

    About Superior Industries

    Superior supplies aluminum wheels and other aluminum components to Ford, General Motors, DaimlerChrysler, BMW, Volkswagen, Audi, Rover, Toyota, Mazda, Nissan and Isuzu.

    The statements contained in this release that are not historical facts may be deemed to constitute forward-looking statements. Actual results might differ materially from those projected in such statements due to a number of risks and uncertainties, including, without limitation, demand and competition for the Company's products, and other risks or uncertainties detailed in the Company's filings with the Securities and Exchange Commission.