This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Superior Industries Reports Financial Results For 2013 Second Quarter

Superior Industries International, Inc. (NYSE:SUP) today reported net income of $6.3 million, or $0.23 per diluted share, for the second quarter of 2013, compared with net income of $6.4 million, or $0.23 per diluted share, for the second quarter of 2012.

Consolidated net sales for the 2013 second quarter decreased 7 percent to $199.0 million from $215.1 million for the comparable period a year ago. Unit shipments decreased 12 percent to 2.9 million from 3.3 million in last year’s second quarter. Gross profit increased to $16.2 million and was 8 percent of net sales for the current year quarter, compared with $15.7 million, or 7 percent of net sales for the same period a year ago.

The company said the negative impact of lower unit volume on net sales was partially offset by a 3 percent increase in the average unit selling price in the 2013 second quarter. The increase in average unit selling price reflected an improved mix of wheel sizes and finishes, partially offset by a decline in the value of the aluminum component of sales, which generally is passed through to customers. The improved gross profit and margin percentage in the 2013 second quarter primarily reflected higher average selling prices and marginally lower costs overall.

“While the fundamentals of the auto sector remain strong, it appears that Superior’s more selective pricing decisions and ongoing capacity limitations are reflected in the reduced unit sales volume,” said Steven J. Borick, Chairman, Chief Executive Officer and President. “We are investing in our existing plants to enhance efficiencies and improve processes, and we are making excellent progress with the construction of a new manufacturing facility in Mexico that is expected to be completed in 2015 and increase capacity by approximately 20 percent.”

Selling, general and administrative expenses for the 2013 second quarter decreased to $7.1 million from $7.5 million for the comparable 2012 period.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs