Superior Industries’ Net Rises 38% to $11.4 Million
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Superior Industries International Inc., a Van Nuys manufacturer of aluminum auto wheels, reported a 38% jump in its third-quarter earnings despite a two-week closure of its plant due to Ford Motor factory closings.
In the three months ended Sept. 30, Superior earned $11.4 million, up from net income of $8.29 million a year earlier. Its sales grew 6%, to $120.4 million from $113.2 million.
For the nine-month period, Superior reported that its profit fell 17%, to $34 million from $40.7 million a year before. Sales slipped 3%, to $379.5 million from $390.3 million.
The company said that it has so far felt no impact from the shutdown of General Motors’ Canadian assembly plants due to a labor strike. But it warned that a prolonged strike could hurt its fourth-quarter results.
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