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Superior Industries Reports Financial Results For 2012 First Quarter

Conference Call

Superior will host a conference call beginning at 10 a.m. PT (1 p.m. ET) on Friday, April 27, 2012 that will be broadcast on the company's website, www.supind.com. Interested parties are invited to listen to the webcast. In addition, a PowerPoint presentation will be posted on the company's website and referred to during the conference call. The webcast replay will be available at the same internet address approximately one hour after the conclusion of the conference call and archived for approximately one year.

During the conference call, the company's management plans to review operating results and discuss other financial and operating matters. In addition, management may disclose material information in response to questions posed by participants during the call.

About Superior Industries

Superior is the largest manufacturer of aluminum wheels for passenger cars and light-duty vehicles in North America. From its five plants in both the U.S. and Mexico, the company supplies aluminum wheels to the original equipment market. Major customers include BMW, Chrysler, Ford, General Motors, Mitsubishi, Nissan, Subaru, Toyota and Volkswagen. For more information, visit www.supind.com.

Forward-Looking Statements

This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, which include, but are not limited to, continued recovery in the automotive sector and improved industry demand, improved operating stability and the possibility of improved cost leverage in older facilities 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, including the company's Annual Report on Form 10-K for 2011. These factors and risks relate to items including, but not limited to, general automotive industry and market conditions and growth rates, as well as 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.
SUPERIOR INDUSTRIES INTERNATIONAL, INC.
Condensed Consolidated Income Statements (Unaudited)
(Dollars in Thousands, Except Per Share Amounts)
                 
 
 
                  Three Months Ended
                  March 25, 2012         March 27, 2011
Net Sales $ 202,457 $ 189,534
 
Cost of Sales                 185,349             172,657  
Gross Profit 17,108 16,877
 
Selling and Administrative Expenses             6,885             6,692  
Income From Operations 10,223 10,185
 
Interest Income, net 300 291
Other Income (Expense), net               341             691  
Income Before Income Taxes 10,864 11,167
 
Provision for Income Taxes               (4,131 )           (3,113 )
Net Income               $ 6,733           $ 8,054  
 
 
Income Per Share:
Basic $ 0.25 $ 0.30
Diluted $ 0.25 $ 0.29
 
Weighted Average and Equivalent Shares
Outstanding for Income Per Share:
Basic 27,170,000 26,870,000
Diluted                   27,327,000             27,311,000  
 
 
 
SUPERIOR INDUSTRIES INTERNATIONAL, INC.
Condensed Consolidated Balance Sheets (Unaudited)
(Dollars in Thousands)
 
March 25, December 31,
  2012             2011  
Current Assets $ 415,048 $ 404,283
Property, Plant and Equipment, net 150,182 145,747
Investments and Other Assets   41,726             43,201  
$ 606,956           $ 593,231  
 
Current Liabilities $ 72,649 $ 68,550
Long-Term Liabilities 68,179 64,166
Shareholders' Equity   466,128             460,515  
$ 606,956           $ 593,231  

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