This Day On The Street
Continue to site
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

Superior Industries Reports Financial Results For 2013 Third Quarter

Superior Industries International, Inc. (NYSE:SUP) today reported net income of $5.2 million, or $0.19 per diluted share, for the third quarter of 2013, compared with net income of $15.1 million, or $0.55 per diluted share, for the third quarter of 2012. The change in net income is primarily the result of an unfavorable $7.7 million, or $0.28 per diluted share, swing in income tax.

Consolidated net sales for the 2013 third quarter decreased 1 percent to $191.6 million from $193.9 million for the comparable period a year ago. Unit shipments in the 2013 third quarter were unchanged, compared with the third quarter of 2012. Gross profit increased to $15.4 million and was 8 percent of net sales for the current year quarter, compared with $15.0 million, or 8 percent of net sales for the same period a year ago. The 2012 third quarter gross profit included a $3.5 million non-cash benefit, equal to 1.8 percent of net sales, resulting from resolution of a foreign consumption tax issue.

The net sales decline reflected a lower value of the aluminum component of sales, which generally is passed through to customers, partially offset by an improved sales mix. Excluding the benefit from the release of the foreign consumption tax reserve in 2012, the gross profit improvement in the third quarter of 2013 primarily reflected overall cost reductions and the benefit of a stronger product mix.

“The continued investments being made in our existing manufacturing facilities, particularly in the U.S., are resulting in lower operating costs and productivity improvements,” said Steven J. Borick, Chairman, Chief Executive Officer and President. “We also continue to make excellent progress with the construction of our new manufacturing facility in Mexico. The project is well underway, with approximately 75 percent of the total commitments made for the facility and production equipment.”

1 of 5

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.60 -0.44%
FB $97.73 -6.10%
GOOG $665.74 -2.60%
TSLA $147.76 -9.10%
YHOO $26.76 -4.30%


Chart of I:DJI
DOW 15,862.28 -342.69 -2.11%
S&P 500 1,830.73 -49.32 -2.62%
NASDAQ 4,217.2240 -145.92 -3.34%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs