A weak product mix and manufacturing challenges at its U.S. facilities contributed to Superior Industries International Inc. reporting a 56 percent decrease in net income for the second quarter when compared to a year ago.
The Van Nuys-based maker of aluminum wheels is investing in capital equipment and talent to meet operating and profitability challenges in its U.S. manufacturing facilities, said Chairman, Chief Executive Officer and President Steven Borick.
“(We) remain confident we can improve the performance of our U.S. plants that today remain critical to meeting the needs of our customers,” Borick said in a prepared statement.
For the quarter ending June 30 Superior reported net income of $6.4 million, or $0.23 per diluted share, on revenue of $215 million. For the same period a year ago, Superior reported net income of $14.7 million, or $0.53 per diluted share, on revenue of $208.7 million.
Mark R. Madler