Superior Industries Announces Net Increase

Superior Industries International in Van Nuys reported that net income for the first quarter increased 19.1%, to $18.5 million, compared with $15.5 million for the first quarter of 1999. Revenue rose 13.5% to $155.4 million over 1999 first-quarter revenue of $136.9 million.

Superior also said that it repurchased 350,000 shares of its common stock during the first quarter ended March 31 and that its board of directors has authorized the repurchase of an additional 4 million shares.

Superior supplies aluminum wheels and automotive components to major automobile manufacturers, including Ford, General Motors, BMW and DaimlerChrysler.