Record Shipments For Superior

Superior Industries International has reported that net income for the first quarter of 2002 has exceeded analyst expectations with revenue and shipments reaching record highs. For the first quarter 2002 net income increased by 7.6 per cent or 0.

65 dollars per diluted share. Shipments of aluminium wheels increased by 16 per cent bringing revenue for the first quarter to 186,532,000 dollars, a record for the company and a 12.3 per cent increase on the same quarter for 2001.

The results include the write off on non-recurring start up costs of 1.653 million dollars in respect of the launch of the new aluminium suspension parts operation. The joint venture wheel manufacturing operation in Hungary also posts profitable results.