Superior Expects Results Slip

Superior Industries International, Inc expects its operating results for the third quarter of 2004 to be less than expected. Management expects about a 5 per cent decline in unit wheel shipments for the third quarter, and net earnings of approximately $0.20 per diluted share.

“Our major OEM customers have announced planned production cuts for the second half of the year based on weak summer sales of cars and light trucks resulting in an unanticipated decline in unit wheel shipments for the company. In addition, operating difficulties led to a delay in the ramp-up of production in certain of our factories following this year’s extended seasonal shutdowns,” said President and COO Steve Borick.