Superior Industries’ Profit Rises 3.1%
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Superior Industries International Inc., a Van Nuys maker of car and truck wheels, said profit in the fourth quarter climbed 3.1% as it boosted sales of aluminum parts to automakers. The stock fell after the company said earnings would drop this quarter.
Net income rose to $23.1 million, or 85 cents a share, from $22.4 million, or 83 cents, a year earlier. Revenue rose 17% to $230.7 million, a record for any quarter, the company said.
Pressure to lower prices will result in a decline in first-quarter profit to 50 cents a share from 83 cents in the quarter last year, the company said. Analysts had expected 88 cents.
Superior shares fell $3.13, or 7.8%, to $37.08 on the NYSE.
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