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Superior Industries International Inc (SUP) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 30, 2012

Superior Industries International Inc

CIK: 95552 Ticker: SUP


Exhibit 99.1


SUPERIOR
Investor Relations Line:
 
(818) 902-2701
www.supind.com
 
Contacts:
 
Superior Industries
 
 
Kerry Shiba
 
 
(818) 781-4973
 
NEWS RELEASE
 
 
PondelWilkinson Inc.
 
 
 
 
Robert Jaffe / Roger Pondel
 
 
 
 
(310) 279-5980
 
 
 
 
Investor@pondel.com


Superior Industries Reports 2012 Financial Results;
Company Announces Plan to Build New Manufacturing Facility

VAN NUYS, CALIFORNIA -- March 1, 2013 -- Superior Industries International, Inc. (NYSE:SUP) today announced financial results for the fiscal year and fourth quarter ended December 30, 2012, along with plans to build a new manufacturing facility in Mexico to expand capacity and meet anticipated growth in product demand.

Net income for the full 2012 year amounted to $30.9 million, or $1.13 per diluted share, compared with $67.2 million, or $2.46 per diluted share, in 2011. The net income decline largely reflected a swing to income tax expense of $3.6 million in 2012 from a $25.2 million income tax benefit in 2011.

Net sales for 2012 declined slightly to $821.5 million from $822.2 million in 2011. A 7 percent increase in unit sales volume for 2012 was offset by a reduction in average selling price, primarily due to a decline in aluminum prices. Unit shipments rose to 12.5 million in 2012 from 11.7 million units shipped in the prior year.

Gross profit for 2012 declined to $60.6 million, or 7 percent of net sales, from $67.1 million, or 8 percent of net sales, in 2011. The 2012 gross profit included a $3.5 million non-cash benefit from resolution of a foreign consumption tax issue. The company said the decline in gross profit and margin percentage reflected the impact of higher levels of manufacturing costs, principally labor and maintenance. The increase in manufacturing cost resulted from higher sales volume, as well as equipment reliability and other challenges that reduced operating efficiencies, especially in the older U.S. facilities. The company continued to operate its factories at high utilization rates throughout the year.

“The opportunities and challenges in our business have clarified the next steps to improve our operating returns,” said Steven J. Borick, Chairman, Chief Executive Officer and President. “Superior remains the premier aluminum wheel manufacturer in a healthy and growing North American automotive market. While our operations in Mexico consistently have performed at class-leading levels, it has been evident we are not currently positioned to participate fully in North American market growth. Accordingly, after a thorough evaluation of ways to deploy our capital, we have decided to expand our manufacturing footprint by constructing a new manufacturing facility in Mexico, where significant light vehicle assembly expansion has been announced or already is underway.”





The following information was filed by Superior Industries International Inc (SUP) on Friday, March 1, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information Statement
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts Valuation And Qualifying Accounts
Valuation And Qualifying Accounts Valuation And Qualifying Accounts (tables)
Consolidated Balance Sheets
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Accounts Receivable
Accounts Receivable (details)
Accounts Receivable (tables)
Accrued Expenses
Accrued Expenses Accrued Liabilities (details)
Accrued Expenses Accrued Liabilities (tables)
Business Segments
Business Segments (details)
Business Segments (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Common Stock Purchase Programs
Common Stock Purchase Programs Common Stock Purchase Programs Narrative (details)
Impairment Of Long-lived Assets And Other Charges
Impairment Of Long-lived Assets And Other Charges Long-lived Asset Impairment (details)
Impairment Of Long-lived Assets And Other Charges Long-lived Asset Impairment (tables)
Income Per Share (details)
Income Taxes
Income Taxes (tables)
Income Taxes Components Of Income Tax Expense (details)
Income Taxes Deferred Income Tax Assets And Liabilities (details)
Income Taxes Income Tax Reconciliation (details)
Income Taxes Schedule Of Income Before Income Tax (details)
Income Taxes Unrecognized Tax Benefits (details)
Inventories
Inventories (details)
Inventories (tables)
Investment In Unconsolidated Affiliate (details)
Investment In Unconsolidated Affiliate (tables)
Investments In Unconsolidated Affiliates
Investments In Unconsolidated Affiliates Investment In Synergies (details)
Leases And Related Parties
Leases And Related Parties Future Minimum Lease Payments (details)
Leases And Related Parties Leases And Related Parties (tables)
Pre-production Costs Related To Long-term Supply Arrangements (details)
Property, Plant And Equipment
Property, Plant And Equipment (details)
Property, Plant And Equipment (tables)
Quarterly Financial Data
Quarterly Financial Data Quarterly Financial Data (details)
Quarterly Financial Data Quarterly Financial Data (tables)
Retirement Plans
Retirement Plans (tables)
Retirement Plans Defined Benefit Plan Disclosures (details)
Retirement Plans Expected Benefit Payments (details)
Retirement Plans Net Periodic Pension Cost (details)
Retirement Plans Projected Benefit Obligations (details)
Retirement Plans Retirement Plans Narrative (details)
Risk Management (details)
Stock-based Compensation
Stock-based Compensation (tables)
Stock-based Compensation Restricted Stock Activity (details)
Stock-based Compensation Stock Based Compensation Expense Allocation (details)
Stock-based Compensation Stock Based Compensation Fair Value Assumptions (details)
Stock-based Compensation Stock Based Compensation, Narrative (details)
Stock-based Compensation Stock Option Activity (details)
Stock-based Compensation Stock Option Awards Outstanding (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies Property, Plant And Equipment (details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (notes)
Summary Of Significant Accounting Policies Suoftec Investment (details)

Material Contracts, Statements, Certifications & more

Superior Industries International Inc provided additional information to their SEC Filing as exhibits

Ticker: SUP
CIK: 95552
Form Type: 10-K Annual Report
Accession Number: 0000095552-13-000009
Submitted to the SEC: Tue Mar 12 2013 4:38:25 PM EST
Accepted by the SEC: Tue Mar 12 2013
Period: Sunday, December 30, 2012
Industry: Motor Vehicle Parts And Accessories

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