Superior Rolls to Increased Profits

Superior Industries International Inc. reported a 36 percent increase in net income for the second quarter when compared with the previous year. The Van Nuys-based manufacturer of aluminum wheels for the automotive industry had a net income of $3 million, or $0.11 per diluted share, on revenues of $255 million for the quarter ending June 30. For the same period in 2006, Superior reported a net income of $2.2 million, or $0.08 per diluted share, on revenues of $219.9 million. The company’s second quarter performance reflects improved productivity and reduced costs, said Superior President and CEO Steven Borick. “The steady ramp in production volume at our new facility in Chihuahua, Mexico also contributed to the increase in gross margin, as did the progress we made during the quarter toward resolving certain production issues at our Midwest plants,” Borick said.