Friday May 9, 01:30 PM
Superior Industries 1Q earnings 12 cents a share
NEW YORK (Thomson Financial) - Superior Industries International Inc. Friday reported first-quarter net income of $3.2 million, or 12 cents a share, beating the mean estimate of analysts polled by Thomson Reuters (TRI.TO - news) for profit of 9 cents a share.
Consolidated net sales fell 9.2% to $222.2 million from $244.9 million a year earlier, short of the $233.8 million mean estimate of three Wall Street analysts.
The company said average selling prices rose less than 1% from a year earlier, mostly because of a higher percentage of large diameter wheels in the sales mix offsetting a 3.5% decrease in the aluminum portion of selling prices.
Superior shares closed at $19.74 on Thursday.
Christie Rizk
cr/pc
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